You may think because you have liability insurance, such as homeowners insurance or business insurance, that you are fully covered for anything that may happen to you. Unfortunately, this is not the case, and you can run into several situations in which you might need coverage that is not a part of your insurance policies. This is where umbrella coverage comes in.
It is liability insurance in excess of claims not covered by your other insurance policies. This article will detail examples of situations in which you would need excess umbrella in New York.
One example of when you would umbrella insurance is the case of a false arrest, which occurs when someone is put into custody without probable cause or a court order. False arrests are not covered under typical polices, and although it is common for the person arrested to file a law suit, any damages incurred will have to be paid out of pocket initially.
Another example is libel and slander. If someone says or writes something untrue about you, the damages you incur will not be covered by your primary insurance policies in most cases. This is where umbrella insurance can come in handy.
Invasion of privacy is another example. While you might feel violated, this is another situation in which you would need umbrella insurance.
There are a number a situations in which you would need excess umbrella in New York. Consider your needs and take time to review insurance policies available to you.