Liability insurance protects you in events where you are deemed responsible for the damage. However, it only protects you up to your policy limit. If the cost of damage exceeds that of your policy, you will have to pay for the remainder out of your pocket. But if you already have a good umbrella insurance policy, that doesn't have to be the case.
Simply put, umbrella insurance is extra liability insurance. While you may already have policies to protect the things that matter most to you (like your business or property), there's a good chance it won't be enough if you're suddenly hit with a significant lawsuit. Umbrella insurance is a catch-all to protect you from major claims and prevent your finances from being wrecked.
Umbrella insurance is not required in Pennsylvania, but in many cases, liability insurance is. Unfortunately, the minimum liability coverage amounts are often too little to be effective against significant claims. Any property or other vital assets should consider umbrella insurance's extra protection.
That said, there's no way to predict what will come your way in the future. You could get in an auto accident tomorrow and suddenly find yourself liable for damage to other vehicles that far exceed your policy's limitations. With umbrella coverage to catch this, you can protect your finances from taking a life-wrecking hit.
We know you have questions, and we have answers. Give our knowledgeable Tobash Insurance Agencies team members a call today or reach out via phone or email to set up an appointment at one of our convenient Pennsylvania locations. We look forward to helping you get the coverage you need!
