There is a common misconception that family healthcare is a component of umbrella insurance. The team at AW Burchell Agency Inc., serving Cortland, New York, is here to provide clarity and guidance. Here’s what umbrella insurance is really all about.
Umbrella Insurance Basics Everyone Should Know
Umbrella insurance is a separate, overarching insurance policy that includes several forms of important financial protection beyond the traditional limits of a single personal policy. It is also affordable.
Umbrella insurance provides coverage beyond the policy limits of your homeowners insurance. For example, if you were involved in a lawsuit, you’d face significant legal fees to mount a defense, regardless of your innocence. You could also face a legal judgment or settlement. A personal umbrella policy would kick in to cover these additional costs after your homeowners’ policy limits were exhausted.
Umbrella insurance also extends liability coverage across your auto insurance policy. If you cause a multi-car accident that exceeds the limits of your auto policy, for example, an umbrella policy will step in to cover your liability.
Umbrella insurance also helps cover court costs, legal fees, and judgments that may arise for personal injury, bodily injury, and property damage that you cause. This can include claims for defamation, dog bites, physical injuries, and other liabilities.
What Umbrella Insurance Does Not Cover
Contrary to common belief, umbrella insurance does not cover your (or your family’s) health insurance or medical expenses. You’d still need your own health insurance for that. Instead, an umbrella policy provides coverage for your liability in situations where you are responsible for someone else’s medical costs or injuries.
It’s important to note that health care for your family in New York, or elsewhere, is not covered under umbrella insurance.
Contact AW Burchell Agency Inc. for a Quote
Serving New York, AW Burchell Agency provides quotes for all your coverage needs, including affordable umbrella insurance. Call us at 607-753-0633 for a quote.
