When you encounter a lawsuit or other issue that exceeds the liability coverage of your other insurance policies, it may be time to file a claim under your umbrella policy. Here, we’ll examine umbrella policies and how to decide whether to file a claim. 

What is Umbrella Insurance?

Typically, your homeowner and auto insurance cover most of your needs. In certain situations, however, you may encounter circumstances that exceed your liability coverage. If you own a business, have a large estate, or have other special concerns, you may need an umbrella policy to keep you covered in the event that your responsibilities exceed your current insurance coverage. 

When Should You Make an Umbrella Insurance Claim?

Situations in which policyholders often use umbrella insurance claims include: 

• Serious accidents: If you’re at fault in a serious auto or boating accident, the amount you need to pay may exceed your coverage. This is the right time to file a claim under your umbrella insurance.
• Serious injury: If you accidentally injure a family member, friend, or customer, the compensation you owe the injured party may exceed your coverage, necessitating an umbrella insurance policy claim. 
• Accidents caused by children: If your child accidentally hurts someone, is sued, or damages another person’s property, you may need to file a claim under your umbrella insurance policy to cover the damages.

Saucon Insurance Agency: Serving Bethlehem, PA

It can be tough to determine what types of insurance policies are the right fit for your needs, but we’re here to help. At Saucon Insurance Agency, we’re proud to serve the Bethlehem, PA, area. We’re excited to get to know you and meet all of your insurance needs. Stop by or give us a call today to learn more.