Umbrella Insurance in NJ for Lawsuits and Liability
Hanson & Ryan’s Guide to Umbrella Insurance in NJ for Lawsuits and Liability
Umbrella insurance in NJ for lawsuits and liability is essential because standard auto, home, or renters’ insurance may not always be enough. At Hanson & Ryan, we help individuals and families understand how umbrella coverage adds an extra layer of financial protection when liability risks go beyond traditional policy limits.
Understanding Umbrella Insurance
Umbrella insurance is a supplemental liability policy that begins where your existing coverage ends. It can cover bodily injury, property damage, personal injury claims like slander or libel, and certain lawsuit costs. While it does not cover intentional acts or most business-related claims, it is designed to safeguard your assets in unexpected situations.
Common Risks Faced in New Jersey
New Jersey residents face unique liability risks due to dense populations, high property values, and frequent lawsuits. A severe auto accident, a slip-and-fall injury on your property, or even a defamation claim can result in damages well beyond the limits of your homeowners or auto policy. Umbrella coverage ensures that these costs do not fall directly on your savings or property.
Determining How Much Coverage You Need
When deciding how much umbrella insurance to purchase, start by calculating the value of your home, savings, and investments. Then consider your personal risks such as teen drivers in your household, swimming pools, pets, or frequent entertaining. Many New Jersey residents begin with $1 million in umbrella coverage, while others choose higher limits to match their exposure.
What Umbrella Insurance Covers
Umbrella policies typically provide coverage for excess liability above your existing auto and home insurance. This includes lawsuit damages from bodily injury, property damage, or personal injury claims. These policies also cover legal defense costs, which can quickly add up during a lawsuit.
What Umbrella Insurance Does Not Cover
There are important limitations to be aware of when considering umbrella insurance. These policies do not cover intentional or criminal acts, professional liability issues, or business-related risks unless specifically added. Contract disputes and employment matters are also excluded, making it important to review your policy carefully.
Why Choose Hanson & Ryan for Umbrella Insurance
At Hanson & Ryan, we have been serving New Jersey residents for more than 147 years with trusted insurance solutions. Our team helps clients identify risks, compare coverage options, and secure umbrella insurance that fits their unique needs. Contact us today to learn more about umbrella insurance and let us help you protect what matters most.
