Umbrella Insurance The Importance Of Umbrella Insurance Contacting a Chartered Financial Services representative is a great way to learn more about umbrella insurance and to get a quote. our professionals answer any questions you may have and help you determine if umbrella insurance is right for you. They can also provide information on the different coverage options available and help you determine the right coverage amount for your needs. Our team can also provide a quote and assist you in purchasing the policy. By working with a Chartered Financial Services representative, you can ensure that you are getting the coverage for your specific needs at a competitive price.Call Chartered Financial Services in Warren, NJ today at 800-549-6007 to learn more about umbrella insurance quotes and coverage, or contact us if you would like to have a discussion. What Is Umbrella Insurance? Umbrella insurance is a type of personal liability insurance that provides extra coverage beyond the limits of your regular insurance policies, such as homeowner’s insurance or auto insurance. It is designed to protect you against significant financial loss in the event that you are found liable for damages or injuries in a lawsuit.Why is this coverage important for me?There are several reasons why you may need umbrella insurance. The limits on your automobile and homeowner’s insurance policies may not be enough to cover the costs of a lawsuit or settlement. For example, if you cause an auto accident that results in death, serious injuries or significant property damage, your auto insurance policy may not be enough to cover the costs of a lawsuit or settlement. Another reason to consider umbrella insurance is if you have significant assets that you want to protect from a lawsuit, such as your home, investments, and retirement accounts. If you are found liable in a lawsuit, your assets could be at risk of being seized to pay for damages.What are examples where umbrella insurance would help protect me?Umbrella insurance provides coverage for a variety of situations, including liability for personal injury or property damage caused by you or your resident relatives, defamation, libel, and slander. In addition to these core coverage areas, some umbrella insurance policies also offer additional coverages.