Umbrella insurance is a policy that provides additional coverage for liability protection related to home, auto and other property claims. The coverage is typically used when limits are reached on other existing plans. As the area's premier insurance broker, P.D.H. Insurance Brokerage in Valley Stream, NY, continues to help clients determine if umbrella insurance is needed and whether it makes financial sense to have the policy.

One of the key reasons to get umbrella insurance is that it can pay for claims that go above and beyond a  policyholder's established limits. For instance, if someone is injured on your property, a current homeowners insurance policy will typically pay for medical expenses and any legal claims. Umbrella insurance picks up the tab for additional financial responsibilities.

Depending on the policy, coverage amounts are typically available in million-dollar increments. The higher threshold allows for a larger protective cushion if a policyholder is unable to pay out of pocket for additional medical costs, wage loss recoveries, and lawsuits. Umbrella insurance policies vary, but the premium amounts tend to be more expensive compared to standard insurance policies.

Another important feature of umbrella insurance is what it does and does not cover. Most policies will provide coverage for damage to homes and other properties. Many plans also extend protection to policyholders and others who sustain bodily injuries. However, umbrella insurance generally does not cover personal possessions, claims and damages related to criminal activities, and business losses.

Having an umbrella insurance policy in place can offer financial peace of mind. Let the experienced and friendly brokers at P.D.H. Insurance Brokerage help you decide what coverage is a good solution for your liability needs. To learn more, call (516) 561-5227 today to speak with a friendly representative. Visit their website for extensive information on policy options to protect you, your loved ones and property.