Often overlooked, umbrella insurance is a critical yet undervalued coverage. It springs into action, taking care of any exceeding liabilities once your primary insurance coverage is entirely consumed.

What If I Don’t Have Umbrella Insurance?

Let’s examine the potential consequences.

Scenario One: All Good; No Fret!

Having excess or umbrella insurance is always a wise step. It takes over when your primary insurance settles a claim, and a balance must be cleared. But suppose your primary insurance compensates the claim fully. In that case, not possessing umbrella insurance may not seem like a grave risk.

Scenario Two: Bankruptcy

In a more dramatic scenario, you could be sued for a hefty amount, and your primary insurance coverage falls short. Without umbrella insurance, you would have to bear this deficit. This gap could be astronomical enough to drive you towards bankruptcy, a threat that umbrella insurance wards off effectively.

Shop With Us for Your Insurance Needs

If you’re in the Amsterdam, NY, area and searching for a reliable insurance provider, we’d like to warmly welcome you to Kinowski Agency Inc. We don’t just offer insurance; we promise peace of mind with our exceptional coverages and services. Contact us today for a quote, no matter where you’re based, and let our skilled team guide you through the process.

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.

Most people are familiar with the basics of insurance coverage. You have your homeowner’s insurance, your health insurance, and your auto insurance. But what about umbrella insurance? Do you need it? And if so, what kind of situations would warrant a claim?

At Kinowski Agency Inc. in Amsterdam, NY, we want to make sure our clients are fully protected against any possible risks. That’s why we offer umbrella insurance as part of our comprehensive lineup of insurance products.

Here are five situations that might call for umbrella insurance:

1. You’re Sued for Libel or Slander

If you’re ever accused of libel or slander, you could be looking at a costly legal battle. Even if you win the case, the legal fees can add up quickly. Umbrella insurance can help cover those costs.

2. You’re Sued for Defamation

Defamation is a type of false accusation that can really damage your reputation. If you’re sued for defamation, umbrella insurance can help with both the legal fees and any damages you might be ordered to pay.

3. You Accidentally Injure Someone

Even if the injury is minor, an accident can still lead to a lawsuit. If you’re sued, umbrella insurance can help cover both the legal fees and any damages you might be ordered to pay. 

4. Your Pet Injures Someone

If your pet injures someone, you could be held liable — especially if the injury is severe. Once again, umbrella insurance can help with both the legal fees and any damages you might be ordered to pay. 

5. You Damage Property Belonging to Someone Else

Even if the damage is accidental, you could still be on the hook financially if it’s severe enough. In this case, umbrella insurance would help cover the cost of repairs or replacements up to your policy limit.

Get Umbrella Insurance Today

Umbrella coverage is designed to protect you from major financial losses. If you’re ever sued or held liable for an accident, umbrella insurance can help you pay for the legal fees and any damages you might be ordered. If you’re not sure whether or not you need umbrella insurance, contact Kinowski Agency Inc today. Our team in Amsterdam, NY will be happy to review your situation and recommend the best course of action for you moving forward.