Tag Archives: umbrella insurance

Who Can Benefit From Personal Umbrella Insurance?

Posted on by

Life can sometimes throw unexpected challenges our way, leading to unforeseen financial difficulties. Personal umbrella insurance is designed to protect you from overwhelming expenses, whether it’s an accident, a lawsuit, or a claim that exceeds your standard insurance coverage. At Saucon Insurance Agency, proudly providing insurance solutions to residents in and around Bethlehem, PA, we’re here to explain how this extra layer of protection can benefit you.

Understanding Personal Umbrella Insurance

Personal umbrella insurance provides additional liability coverage that goes beyond the limits of your home, auto, or other personal policies. If you’re held responsible for damages, injuries, or legal claims, this coverage can help bridge the gap, protecting your current assets and even your future income. It’s a safety net that ensures you’re not left exposed to financial risks.

Who Should Consider Umbrella Insurance?

If you own property, have savings, or rely on an income to support your family, umbrella insurance might be the right choice for you. For homeowners, this coverage can be invaluable. For example, if a guest suffers an injury on your property, the liability costs could exceed what your homeowner’s insurance will cover.

Drivers, especially those with young or inexperienced drivers in their household, also face potential liabilities. A severe accident could result in medical expenses, legal fees, or damages that surpass the limits of your auto insurance. Even individuals who rent their homes or own recreational vehicles like boats could benefit from umbrella insurance’s additional protection.

Protect What Matters Most

Unexpected events don’t have to put your financial future at risk. Contact Saucon Insurance Agency, serving the Bethlehem, PA region, today to learn how personal umbrella insurance can safeguard your assets and provide peace of mind. Let us help you prepare for life’s uncertainties.

What Assets Are Covered In Umbrella Insurance?

Posted on by

If you’re considering adding umbrella insurance to a personal or business policy, it’s important to know what assets can be seized. Below are the most common assets that can be frozen, sold, and used to repay a debt or damages you’re responsible for.

Bank Accounts

Any bank or credit card accounts you have can be frozen, making spending or using that money impossible. This includes checking accounts, savings accounts, and any money market investments. Some have CD accounts and other saving options that can be seized and sold.

Recreational Vehicles

If you own boats, ATVs, or UTVs, you can expect these items to be surrendered and sold without umbrella insurance. When they are sold, they are often sold at auctions, so bidders aren’t paying what these items are worth, which can be devastating. Anything that has a title under this category will be taken into custody and sold later.

Vehicles and Motorcycles

Any vehicles or motorcycles that you own are also valuable assets that can be seized. When you build your umbrella insurance policy, you want to ensure you’re adding the correct value of these vehicles and motorcycles so you can protect them in case of a case.

Land and Homes

Probably the first items to be seized when someone doesn’t have umbrella insurance are land and homes that the person owns. This can also include any commercial business that you have. With umbrella insurance, you can cover the cost of your home and these properties so that it can pay out and you can stay in your home.

Umbrella insurance allows you to draft a policy large enough to protect all of these assets. If you have more questions, contact us at Saucon Insurance Agency. We serve the communities in and around Bethlehem, PA.