Umbrella Insurance in Pennsylvania

Have you ever been frustrated by a Doylestown, PA insurance policy's limits? Most insurance policies are very stringent on what they do and do not cover. For example, a collision policy is apt to cover damages to the vehicle itself as the vehicle was purchased. Still, things can get tricky if your newly installed upholstery is damaged or you lose an expensive laptop in the accident. The good news is that a specially designed insurance policy is made for those odds and ends; an insurance policy is designed to fill in the gaps. Enter umbrella insurance.

Understanding Pennsylvania Umbrella Insurance

Umbrella insurance is also known as gap insurance as it serves as an umbrella to cover all of your other existing policies and nicely fills in the gaps for both the policies you have and the ones you don't.

For example, consider if you have an auto insurance policy with a personal liability limit of $25,000 for property damage and are deemed at fault for a collision in which the other party suffered $30,000. If you only held the auto liability insurance, your insurer would pay the other party the $25,000, and you would be held responsible for paying the $5,000 over your limit. However, if you have a $10,000 Umbrella Insurance policy, that policy would pay out the $5,000.

Umbrella insurance is not mandated by Pennsylvania law, nor will any lender typically require it. However, because it can be used to cover just about any incident, many of our Doylestown, PA clients opt to purchase it at a small premium price. This is a low-cost insurance that is remarkably cost-effective thanks to its versatility. You can apply it following a car accident, home theft, dog bite, and much more.

Learn More About Umbrella Insurance by Contacting Bucksmont Insurance

For more information about umbrella insurance and obtaining your own Doylestown, PA umbrella insurance policy, call our team at Bucksmont Insurance today.