Umbrella Insurance in New Jersey

At O’Donnell Agency LLC, we offer New Jersey residents options for including umbrella insurance in their plans. This isn’t always a familiar term to those buying new insurance, but an umbrella policy is a specific type of coverage that greatly extends liability insurance on top of what more traditional insurance already provides.

What Umbrella Insurance Affects

Umbrella insurance offers additional liability insurance – usually starting at $1 million – designed to help protect against lawsuits.

In practice, this extends the sorts of coverage found in auto and homeowner's insurance. For example, if someone fell on your property, injured themselves, and decided to sue you, your homeowners' insurance will only cover up to certain limits. For a significant lawsuit, that may not be enough. Umbrella insurance steps in after these other limits are exceeded and continues to cover your liability, depending on how the suit ends.

People Who Benefit From Umbrella Insurance

There are two frequent cases (sometimes overlapping) where umbrella insurance is frequently recommended. The first is when you have assets that are clearly beyond the liability limits of your current auto and homeowner’s insurance, assets that you could potentially lose in a bad lawsuit. This includes your home, savings, investment accounts, and more.

The second case is if your job puts you at a higher risk of lawsuits for various reasons. Limo drivers, public figures, high-income earners, people who frequently rent boats or RVs, coaches, dog trainers, frequent party hosts…it’s a long list! If you think umbrella insurance may be right for you, you can talk to an insurance agent for more details.

For more information regarding umbrella insurance and your personal situation, contact O’Donnell Agency LLC today to find out more. We can help residents in the Cranford NJ area understand umbrella insurance options and pick the right version if necessary!