Does umbrella insurance replace my other policies?

Umbrella insurance from us at Kinowski Agency Inc. is an extra form of liability protection that provides coverage over and above existing policy limits. This type of policy can provide a safety net for those in the Amsterdam, NY area with valuable assets or higher-than-average liabilities. While umbrella insurance is designed to supplement other policies, it does not replace them. 

Rather than replacing other policies, umbrella insurance works by providing an additional layer of protection when underlying limits have been exhausted. It broadens your coverage for claims such as personal injury, property damage, and slander/libel in excess of the limits found in various liability policies. This type of policy also covers expenses associated with defending against covered lawsuits, which can add up quickly. 

Umbrella insurance provides peace of mind and security for individuals and business owners who are concerned about protecting their assets from potential lawsuits or unforeseen circumstances. It’s important to remember, however, that umbrella insurance does not replace other forms of coverage such as health insurance or homeowners/renters policies; rather, it complements them by providing an additional level of financial protection should you be held liable for damages beyond your existing policy limits.

Furthermore, umbrella insurance can also provide coverage for risks not included in your other policies such as libel, slander, or false arrest. It is important to note that the amount and type of coverage depend on the policy you choose, so be sure to shop around and select a policy that meets your individual needs. 

We Are Here To Help

For more information, give us at Kinowski Agency Inc. a call today. We are proud to serve the Amsterdam, NY area and would be happy to help you find a policy that meets all of your needs.