Umbrella Insurance

Umbrella insurance is for when a catastrophic event leaves you liable for more than the limits of standard insurance policies. Most automobile accidents, for instance, are well below the limits of your coverage, but there are accidents where the losses can get into the millions of dollars. At the Rapoport Insurance Agency, we have been helping people in New Jersey find the insurance they need for years. We can answer any questions you shave about umbrella insurance, or any other insurance need you may have.

Who needs it?

Umbrella insurance is not something every person needs. It is primarily for people who would have a lot to lose if they were held liable for a large amount of money. People who are about to retire, and have a lot of savings, would be prime candidates because one accident could wipe out their savings. People with a lot of assets would also benefit from this kind of policy. Owners of large businesses would also benefit from an umbrella insurance policy.

What is covered?

This type of policy would cover you if someone was hurt on your property, and you lost a lawsuit that followed. It would cover a catastrophic car accident as well. It could also cover you for things like libel lawsuits. Normal insurance has limits, like $300,000. If you were ruled at fault and there was $500,000 in damages, you would still be on the hook for $200,000. There are some lawsuits where millions of dollars are awarded, and an umbrella policy would save you in that situation.

Give us a call

If you have a lot of assets in New Jersey and you want to make sure they are protected, call the Rapoport Insurance Agency today. We can help you find the policy you need and help protect your property that worked hard to obtain. These policies are relatively inexpensive and provide peace of mind in addition to real protection when you need it.

While our office is located in Freehold, NJ, we serve clients all across New Jersey, New York, and Pennsylvania.