New Hampshire Umbrella Insurance
Find the right umbrella insurance policy for you.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
This state has its fair share of nasty weather, and when there’s a steady downpour, an umbrella can help keep you dry. If you forget it at home, or you never purchased a new one, you’re going to get wet. While changing into a pair of dry clothes is easy enough, recovering from a $5 million lawsuit settlement is harder. With your standard homeowner policy, and - if you choose to purchase it - vehicle policy, there are minimum liability limits that must be met, but they may not be sufficient. Standard insurance policies have maximum liability limits, which can quickly be absorbed by a major court case. In that situation, when it feels as if the world is raining down on you, New Hampshire umbrella insurance can provide some peace of mind.
Expensive Liability Claims
- If you have a pool, it might be time to purchase extra liability insurance. The majority of drownings occur in residential swimming pools.
- Is your child on a social media website? Over 1 million New Hampshire residents use Facebook and the things you say can be held against you.
- Do you rent a house or a condo? Nearly 24% of the population rents a residence, meaning there are landlords out there with not enough protection.
- Do you have a dog? State law states that you’re responsible for damages occurring to a person or property, including livestock. If someone who is bitten is trespassing, however, you’re not held responsible.
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What Is New Hampshire Umbrella Insurance?
Umbrella insurance is a type of policy that simply builds upon your existing liability protection. Think of it as extra liability insurance. You never know when an accident can occur, and if you’re the culprit that caused the incident, you’re responsible for damages. If you’re in a friend’s home and accidentally stain a carpet, it’s unlikely you’ll end up in court. Your normal liability policy can pay for the damages if necessary. But, if your dog kills a young child, it’s acceptable for the parent to make a liability claim or sue you for damages. Umbrella insurance works exactly like a rain umbrella; you don’t need it every day and may not need it during a light drizzle, but if you’re facing a monsoon, you’re glad it’s there.
Do I Need New Hampshire Umbrella Insurance?
This is a policy that is specifically geared towards those that have a large potential of being sued. While everyone has the ability to cause an accident, the likelihood of a lawsuit brought against you depends on one thing: probable payout. If you can’t pay for your lunch, much less a $3 million settlement, a lawyer may try to prevent a client from seeking further damages. On the other hand, the need for umbrella insurance isn’t necessarily based solely on your current finances.
If you can’t afford lunch because you’re a medical student or future investment banker, it might be a good idea to go ahead and purchase an umbrella insurance policy. Your future wages could be garnished for an accident that happened in the past. If you have large amounts of assets, like real estate or stock investments, purchasing an umbrella policy is a good idea.
If you’re not sure whether you need an umbrella policy or not, contact an independent agent in our network. Your member agent can help you review your current financial status and future plans to see if you qualify as a candidate. Luckily, New Hampshire umbrella insurance is an affordable product, but your member agent can still compare New Hampshire umbrella insurance quotes to find a rate that works for you.
Don’t get caught without your umbrella policy. To get the protection you need, contact an agent today.