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Newmarket, NH 03857

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How Umbrella Insurance Works

Umbrella insurance is also known as catastrophic insurance. Liability claims and damages can easily exceed the limits of your primary policy, which can truly create a financial catastrophe. At Keslar Insurance Agency in Newmarket, NH, we offer umbrella policies to provide the coverage you need if the worst happens.

What Is Umbrella Insurance? 

Umbrella insurance functions as a secondary personal liability policy. All insurance policies have coverage limits. The limits of your primary policy are designed to cover most claims. If your financial liability exceeds the coverage limits, you are left to pay the difference. This can put your assets and your financial future at risk. An umbrella policy provides coverage when your primary policy limit is exceeded and covers the difference up to its coverage limit. 

Coverage Limits

Umbrella insurance requires you to have certain coverage limits on your primary policies, but that still may not be enough in certain circumstances. A multi-car pileup or an accident where someone is permanently injured can easily exceed coverage limits. This is when umbrella insurance kicks in. Most umbrella policies are sold in increments of a million dollars, beginning at one million and going up to five million. 

What Umbrella Insurance Covers

Most umbrella policies will cover you and the members of your household. It will cover claims that exceed your auto, home, and watercraft or recreational vehicle policies up to its coverage limit. Umbrella coverage may cover things not included in your primary policies as well. 

In most cases, umbrella insurance won’t cover damage to your property or your medical bills. It doesn’t cover damage inflicted intentionally, or claims related to a business you own. However, it does provide you with excess liability protection, usually worldwide. 

At Keslar Insurance Agency, we know the risks residents of Newmarket, NH face. Accidents can be very costly, and you can quickly lose everything you’ve worked for. If you want the extra peace of mind that comes with an umbrella policy, contact us today to get started. 

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