First Choice Insurance Services is Long Island's Leader provider of affordable Umbrella Insurance. Our extensive network of carriers give us the ability to competitively quote a wide range of insurance types.
Umbrella insurance protects our clients and their families when they're sued after an event that had occurred while they were at their home, in their car, or anywhere else. In these lawsuits, plaintiffs can sue for their entire life worth. This court claims unpaid may lead to the seizure of assets or garnishment of wages. It is not uncommon for losing cases to have to sell homes, boats, rentals to pay for the lawsuit. If you own (or rent) boats, cars or homes, coaches youth sports, have dogs or dangerous pets, are a parent, often host guests in their home or on their property or you volunteer your time and service you may have increased exposure to such liability cases. These policies may also cover personal injuries such as libel/slander, false arrest, detention or imprisonment, malicious prosecution, wrongful eviction or wrongful entry and any associated legal costs that occurred subsequently after any of these events. Protection from expensive lawsuits does not have to be expensive. First choice insurance, we have a selection of carriers that offer low-cost umbrella insurance. We have no problem assigning an umbrella under a different home and auto policy carrier so having the same liability protection will be a breeze.
Is Umbrella insurance right for me?
Though it is a common coverage among the wise and wealthy to preserve their fortune, anyone may benefit from a personal umbrella policy. Regardless of income or assets at risk, you may face a liability lawsuit which if lost has the potential to cease assets, diminish savings accounts, and even garnish wages. A minimal liability requirement is often employed by insurance providers of umbrella policies. This means in order for an umbrella policy to be effective you must already have liability coverage on a property exceeding the limits of 100/300. Speak to an agent about your current policy to see if it may promptly be supported by an umbrella or if you will need to increase those limits for the policy to be effective.
How much does umbrella coverage cost?
We estimate our client's umbrella policy with a limit of $1 million in coverage costs on average $300 per year. This premium is dependent on all factors that normally come into play with insurance such as accident history, credit, and prior loss history. If you have more property that is covered under the umbrella policy then the exposure to risk is higher an thus the premium increases from the average. Give us a call and we will give you a full insurance evaluation and make sure you have the most cost-effective risk solutions in place.
How much Umbrella coverage do I need?
The high costs of a lawsuit are a common consequence when you are found liable for the injury to another. This coverage may bail you out of several unfortunate incidents. For example, if a guest is injured in your house, you cause a car accident or you're sued for any other form of negligence leading to the injury of another (including alleged defamation online or otherwise) then an umbrella policy may help prevent you from paying associated lawsuit costs out-of-pocket. The victims of these situations have legal leverage to sue for their, "value of life" this may include all potentially lost wages, assets and anything else that would have had value if their life was lost. The average cost of the "value of life" type lawsuit is around 3 million dollars.
Personal umbrella policies typically offer at least $1 million in liability coverage. They are usually available in increments of $1 million, up to $5 million. We suggest you always start by using insurance that will replace the value of your net-worth. Your agent can help you decide how much coverage is right for you.
Interested in an Umbrella Insurance quote call us today 631-392-4415
What will your Umbrella Insurance cover:
Bodily Injury Liability - This will pay for bodily injury and lost wages when you are found liable for an accident.
property damage liability- this will cover property which you have damaged in an accident includes the other vehicle as well as houses, fences, and signs.
Personal Injury- Some companies will offer an umbrella policy with a built-in personal injury policy. This means you may be indemnified for bodily injury, lost wages, and court expenses when someone else is found liable for your injuries. This includes circumstances of false arrest, detention, or imprisonment; malicious prosecution; wrongful eviction; slander; libel; and invasion of privacy.
Medical payments - This is a set amount of money that will be given for the personal injury you and of any guests while they are in your car.