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When To Update Your Automotive Umbrella Insurance Policy

Knowing When to Update Your Automotive Umbrella Policy

Understanding the instances when your automotive umbrella policy should be updated can ensure you have the necessary liability protection. At The Good Insurance Group LLC, our agents can assist with your umbrella coverage modifications.

Reflecting on Accident Costs

If you were previously liable for an accident, your umbrella insurance policy should have handled some of the costs. If it didn’t provide as much coverage as needed, you likely had to pay large fees out of pocket. Reflect on past accident costs to consider if you need to increase your insurance coverage. Utilize an online insurance calculator tool to compare umbrella insurance rates.

Considering New Vehicles

Changes to your fleet may necessitate adjustments in your insurance coverage. If you acquire new vehicles, factor in each vehicle’s cost. The value of each vehicle will guide you in selecting an umbrella insurance policy that provides suitable coverage.

Accounting for New Drivers

Hiring new drivers calls for modifications to your existing insurance coverage. Consider investing in an umbrella insurance policy that provides additional liability protection.

Adjusting to Altered Travel Plans

Changes in your travel plans should prompt alterations in your insurance policy. If you start using your fleet on a daily basis or increase the amount of driving your fleet drivers do, your need for increased insurance coverage may rise. Update your existing insurance policy whenever you alter your travel plans.

An umbrella insurance policy can provide you with an additional layer of protection. Reach out to one of our trusted agents serving Bloomsburg, PA, today. The Good Insurance Group LLC agent will help prepare your umbrella insurance policy.

Beyond the Basics: How Umbrella Insurance Adds an Extra Layer of Protection

Umbrella insurance, often underestimated, is a crucial addition to safeguard what matters most to you, extending beyond standard coverage limits and acting as a safety net when primary policies reach their liability thresholds. From personal injury liabilities to property damage and defamation lawsuits, umbrella insurance offers an additional financial buffer against unforeseen events. The Good Insurance Group LLC, serving Bloomsburg, PA, and surrounding areas, can guide you through the nuances of umbrella insurance and how it can reinforce your financial security as an insurance partner.

One of the primary advantages of umbrella insurance lies in its ability to provide broader coverage, supplementing existing policies to bridge the gaps in liability protection. Understanding the intricacies of umbrella insurance involves recognizing its role in protecting personal and financial well-being. This policy can provide an added sense of security in today’s world by offering an extended safety net that covers various liability scenarios. Recognizing the importance of this supplemental coverage and its potential to safeguard against unforeseen events underscores the significance of considering umbrella insurance as an essential component of a comprehensive insurance portfolio.

Ready to improve your protection and secure your financial future? Contact us at The Good Insurance Group LLC, serving the Bloomsburg, PA, and surrounding areas today to explore how umbrella insurance can add an extra layer of security to your existing policies. Our team is dedicated to providing personalized guidance tailored to your unique needs. Don’t leave your financial well-being to chance – let us help you fortify your defenses against unexpected liabilities. Reach out now and discover how umbrella insurance can offer you the peace of mind you deserve.

What Would an Umbrella Policy Cover?

Wondering whether you should purchase umbrella insurance? This form of coverage provides protection beyond the usual limits of a set of policies. In certain situations, unforeseen events come with property damage or an injury; this can sometimes lead to unexpected legal troubles or medical bills. At the Good Insurance Group LLC, we want to review what kind of insurance you can expect from an umbrella policy. 

Legal Troubles

Umbrella insurance is considered a type of liability coverage that financially protects you in legal situations. This includes anything from a lawsuit to legal consultation. If you’ve experienced an auto accident where one driver acted negligently or maliciously while on the road, that can result in a lawsuit that a regular auto insurance plan doesn’t cover. An umbrella policy covering liability claims will help you against that situation. 

Medical Bills

This insurance can also cover medical costs and hospital bills incurred from an accident. Many insurance plans tend to focus on property damage or possession loss of a perilous event while ignoring the personal injuries that incur from an accident. An umbrella clause would also ensure that a medical situation is paid for. 

Purchase Your Umbrella Insurance in Bloomsburg, PA

Are you interested in finding a decent umbrella policy in your insurance package? The Good Insurance Group provides quality insurance for the people of Bloomsburg. Contact us at 570-213-3367 to schedule an appointment with our team of experienced professionals. From there, we can discuss what our umbrella policies cover in an insurance plan and how that would help your situation. 

What Is an Umbrella Policy and Why Would I Need One?

At The Good Insurance Group LLC, serving the greater Bloomsburg, PA area, one of the questions we are often asked regarding insurance products is what umbrella insurance is and when an individual or business owner would need to purchase this type of policy. Umbrella insurance can be a great way to protect yourself or your business. Read on to learn more about umbrella insurance and when it may be needed. 

What Is an Umbrella Policy?

An umbrella policy is essentially an insurance policy that insures all of your insurance products. The policy provides extra coverage in case a significant event happens and your insurance policy does not provide enough coverage for the incident. For example, if your home went down and flames and the cost to rebuild your home exceeds your home insurance policy, an umbrella policy would cover the difference between what your home insurance pays and what is needed to get your home back to its pre-accident state. 

Why Would Someone Need an Umbrella Policy? 

Someone will need an umbrella policy if they have assets they want to protect. An umbrella policy is most commonly used if you or your business are sued, and the damages exceed your insurance limits. This helps to ensure you will not be held liable for the costs of defending the lawsuit and a huge payout, helping to protect your assets. 

Umbrella Insurance helps provide extra insurance if an event exceeds your policy limits. If you live in or around Bloomsburg, PA, let The Good Insurance Group LLC, sit down with you and explain more of the benefits of an umbrella policy and how it can specifically benefit you. Schedule an appointment with us by giving us a call. 

How Does Umbrella Insurance Work?

When you have home and auto insurance, you may not have the protection that you think you do. These policies often have little liability coverage contained in them, and this can mean that you aren’t able to pay for a serious accident. One way to remedy this is to get an umbrella policy. If you are interested in getting one of these policies, give us a call today at The Good Insurance Group LLC in Bloomsburg, PA.

Liability Coverage

Your home and auto policies will have some liability protection, but the amount is often low. This can leave you ill-prepared to pay for a serious accident that happens on your property or in your vehicle. An umbrella policy gives you extra liability coverage for both of those insurance policies. And, it costs much less to get an umbrella policy than it would to add coverage onto your home and auto policies. This is a budget-friendly way to get a lot more coverage.

How It Works

Once an accident happens, the first insurance policy to pay out will be your home or auto policy, depending on the type of accident that occurred. This policy will come in and pay for the accident’s medical bills and other expenses, but only up to its stated maximum payout. After that, you would be on your own to pay the rest if you didn’t have an umbrella policy. If you have one, it would come in next and pay what is left of those bills, and it has a much higher maximum payout than your home or auto insurance. 

Get Your Umbrella Policy

If you want to have more liability coverage for your home and auto policies, call us now at The Good Insurance Group LLC in Bloomsburg, PA to find out more about these policies. 

The Best Uses for Umbrella Insurance

At The Good Insurance Group LLC, we know many Bloomsburg, PA residents who don’t understand umbrella insurance. This misunderstanding can be troubling but, thankfully, we’re here to tell you how you can use this extra liability protection to keep yourself and your family or business safe.

What Umbrella Insurance Covers 

Umbrella policies operate like an extra liability protection option on top of your standard policy. They can be adapted to your specific policy type. For example, they can provide you with protection for your vehicle, home, or even your business, depending on your needs. 

This benefit is significant. For example, if someone gets seriously injured due to your business, sues you for $100,000, wins, and your liability covers only $50,000, your umbrella policy can step in to pick up the rest of the cost. Usually, this option is more suitable for businesses rather than homeowners. 

What You Should Cover 

When getting an umbrella insurance policy, it is important to make sure that you use it properly and for the appropriate liability concerns. Just a few ways that you can use it include for:

  • Serious auto or boating accidents 
  • Driving a car into a building 
  • Dog or animal attacks 
  • Severe injuries that you caused 
  • Libel, defamation, and slander
  • False arrest or imprisonment 
  • Wrongful eviction situations 
  • Invasion of privacy cases 

Your policy will not protect you from any deliberately illegal or destructive acts that you perform. For example, you won’t get protected by your umbrella insurance if you set fire to your facility to collect insurance payments. 

Make Sure You’re Protected 

Do you need an umbrella insurance policy and aren’t sure where to turn? Please contact us today at The Good Insurance Group LLC to learn more. Our team helps Bloomsburg, PA residents get the coverage that they need and will do what they can to make sure you are satisfied. 

Save Money with Umbrella Insurance in Pennsylvania

Finding the right insurance policy to protect your property doesn’t have to be complicated. You invested your time, your energy, and your money into things that make you happy and are important to you. Making sure that these things are protected at all times is a high priority, and you deserve to work with an insurance agency that helps you protect your assets. 

The Good Insurance Group, LLC is an independently owned and operated company based in Bloomsburg, PA. Serving the community for many years while providing many types of insurance, we make it our mission to pair you with the right insurance package best for you. Umbrella insurance is vital to have as it protects your assets, and here is how you save money by having it. 

If anybody was to get hurt on your property and feel that you were at fault, then they have every right to file a lawsuit against you. An umbrella insurance policy’s purpose is to cover liability that extends beyond your home insurance liability limits if the standard policy does not cover the lawsuit amount. By not having to cash out any money or give up any assets, you can keep everything that you have without worrying about the financial strain. In that same lawsuit, without umbrella insurance, you would have to cover the cost of what your home insurance liability didn’t cover out of pocket or in assets. This is how easy it is to save yourself thousands, if not millions of dollars. 

Feel ready to set up a meeting with one of our agents about purchasing umbrella insurance? Reach out to the offices of The Good Insurance Group, LLC in Bloomsburg, PA to speak with our team about finding a policy that fits your needs.