An extra layer of protection when you need it.
Comprehensive Umbrella Insurance in Pennsylvania
Experiencing a major insurance claim or lawsuit could lead to personal financial loss if costs exceed coverage provided by your standard homeowners and auto policies. We’ll help protect your financial future.
Both spectacular and daunting, life is full of unpredictable moments.
Thankfully, humans have invented tools to lessen the burden of some of the more unpleasant surprises.
Like your friendly umbrella — always there to shield you from sudden storms.
In the insurance world, umbrella insurance serves a similar purpose to your handheld rain-shade.
For example, while auto or homeowners insurance is essential to any comprehensive risk management plan, they may not cover you in some unforeseen instances.
This is where umbrella insurance steps in, offering an extra layer of protection that can prove invaluable during unanticipated events.
At Freedom Insurance Group, Inc., we create tailor-made umbrella insurance policies that protect you from life’s unexpected storms.
What Is Umbrella Coverage in Pennsylvania?
Umbrella insurance provides you with extra coverage once you reach your insurance liability limit for things like:
- Property damage
- Medical bills
- Certain types of lawsuits
Umbrella insurance also covers things often excluded by other personal liability coverages, including:
- Libel slander
- False arrest
- Liability coverage on rental property
This coverage can be lifesaving in a costly liability claim or lawsuit.
Umbrella Insurance Use Scenario
Say you’re involved in an auto accident that causes severe injuries to the other parties involved, and their medical expenses exceed the liability limit of your auto policy.
Umbrella insurance would give you an additional reserve of insurance to cover the other parties’ medical bills.
Click it. Read it. Cover it.
- Click on the hotspots.
- Discover your risks.
- Get the right coverage.
You can be held responsible if you significantly damage another vehicle and/or property. Do you have enough coverage to protect yourself from the risk?
Your standard auto policy limit could easily be exhausted if you are found to be at fault. An umbrella or excess liability policy provides an extra layer of protection once your standard liability limits are exhausted. It’s a cost-effective way to ensure the peace of mind you deserve.
It’s easy to get distracted while driving. All it takes is an incoming text message, a fussy baby, or changing the radio station and your eyes are off the road long enough to crash into a pedestrian, bicycle, or another vehicle. As an owner/operator of the vehicle, you may be held financially responsible for any bodily injuries caused as a result of the accident.
An umbrella or excess liability policy helps extend your coverage to better protect you against these significant costs. It’s the ideal coverage to provide peace of mind, even when the unthinkable happens.
You invite guests over for a pool party and one of your guests dives into the shallow end of the pool and is permanently injured. They hire a lawyer to represent them and after a long legal battle, you and your family are left financially responsible for their injuries. Do you have enough money in savings to cover your legal responsibilities as well as the legal defense costs?
An umbrella or excess liability policy increases your personal liability limits by adding protection over and above your current auto, boat, or homeowners policies - providing real financial value, as well as priceless peace of mind. Excess liability insurance is available either by an endorsement to your homeowners policy or available as separate coverage.
Accidents can happen to anyone at any time, even those who have been out on the water for years. Personal watercraft insurance is a necessity, but sometimes the limit these policies provide isn't enough.
Your standard watercraft policy limit could easily be exhausted if you are found to be at fault for property damage or personal injury. An umbrella or excess liability policy can extend those limits, providing you an additional layer of financial protection.
Why Do You Need Umbrella Insurance in Pennsylvania?
In today’s litigious society, lawsuits are all too common.
While your standard insurance policies cover damages, a lawsuit dramatically expands the amount you are responsible for.
Some added costs typical insurance policies might not cover include:
- Legal fees/court costs
- Punitive damages
- Pain and suffering payments
- Lost wages
Protection From Uninsured or Underinsured Motorists
If you’re in an accident with a driver without insurance, your umbrella policy can cover the damages.
One of the primary reasons to invest in umbrella insurance is to protect your assets from being seized to settle large liability claims.
If a significant insurance claim exceeds coverage provided by your standard policies, you could risk losing:
- Your home
- Other valuable possessions
Freedom Insurance Group can help you find an umbrella policy to protect your financial future.
Umbrella Insurance FAQ
Who Needs Umbrella Insurance in Pennsylvania?
Anyone with assets to protect can benefit from umbrella insurance. This could be particularly useful for homeowners, car owners, landlords, and individuals with significant assets or future income potential.
Is Umbrella Insurance Mandatory in Pennsylvania?
No, umbrella insurance is not mandatory in Pennsylvania. However, it is recommended for people with significant assets.
How much personal umbrella insurance coverage should I have in Pennsylvania?
The amount of umbrella insurance you should have depends on your personal circumstances. Factors such as your assets, potential risk factors, and lifestyle can affect how much coverage you need. It’s best to consult with an insurance professional to assess your situation and get a personalized recommendation.
What happens when you exceed the limits of your auto or homeowner policy in Pennsylvania?
If the cost of injuries or damage you cause in an accident exceeds the limits of your auto or homeowner policy, you would be personally responsible for the difference. This could potentially result in a significant financial loss. An umbrella insurance policy provides additional liability coverage to prevent such situations.
Your Home for Umbrella Insurance in the Keystone State
Umbrella insurance serves as a crucial safety net, providing added protection and peace of mind in an unstable world.
And at a relatively affordable rate. According to Forbes, umbrella insurance costs $383 annually for $1 million in coverage.
Like a friend offering a helping hand, the insurance experts at Freedom Insurance Group can guide you through the insurance policy creation process.
With more than 50 years of experience, we know how to meet the needs of families across Pennsylvania — including Philadelphia, Bucks County, and Montgomery County.
We represent 15 different insurance providers to remain competitive in the market and ensure you get the coverage you need at an affordable price.
Contact Freedom Insurance Group today to become financially protected from life’s unexpected events.
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