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Sandra Saunders Agency, LLC

11 Hartford Rd,
Delran NJ 08075

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New Jersey Umbrella Insurance Coverage

Umbrella Insurance in New Jersey

Real estate is one of the best investments that people can make. Since property values and the cost of goods only increases (over the long term), what you are worth only increases regardless of your initial purchase price. Of course, the more expensive things become, the more expensive it is to replace these things. One incident can result in damage that exceeds common coverage limits. The Sandra Saunders Agency LLC of Delran, NJ can help New Jersey and Pennsylvania residents keep damage to your property from permanently damaging your finances.

What is Umbrella Coverage in New Jersey and Pennsylvania?

One common misconception about umbrella coverage is that it is a catch-all policy that can replace multiple policies should something happen. In actuality, umbrella coverage is an additional policy used should the primary coverage of a current policy be exhausted. It cannot be used as a coverage in the place of a policy. An umbrella policy that is specific to your auto policy will not automatically cover your home.

For example, someone who has full-coverage on their automobile still has maximum amounts covered in an accident. Should this person be responsible for an accident that totals a new, expensive vehicle and results in substantial medical damages to that other driver, the cost of high-end vehicle replacement and medical bills can quickly exceed a full-coverage policy. Umbrella coverage would then be used to cover what remains after that initial policy is consumed.

Should I Get an Umbrella Policy?

Umbrella policies are great for the worst-case-scenario type of events. However, it may be overkill for your personal situation. Maybe your situation would work best with a selective umbrella policy. To find out if you could benefit from an umbrella policy, speak with a professional with the Sandra Saunders Agency LLC of Delran, NJ, today!

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