New Jersey Manufacturers Umbrella Insurance (Coverage and Benefits)

Umbrella insurance is a type of insurance that provides additional liability coverage for individuals and businesses in the event of a lawsuit. New Jersey Manufacturers (NJM) offers umbrella insurance coverage to its customers.

1. Coverage

NJM’s umbrella insurance provides coverage in excess of the underlying policies, such as auto, homeowners, and watercraft insurance. It covers bodily injury and property damage liability, as well as personal injury liability, which includes coverage for libel, slander, and defamation of character.

2. Benefits

The benefits of NJM’s umbrella insurance include:

a. Increased Liability Coverage: Umbrella insurance provides additional liability coverage, which can protect you from financial losses in the event of a lawsuit.

b. Protection of Personal Assets: Umbrella insurance can help protect your personal assets, such as your home, savings, and investments, from being seized in a lawsuit.

c. Peace of Mind: With umbrella insurance, you can have peace of mind knowing that you have additional protection in case of an unexpected event.

d. Affordable Premiums: NJM’s umbrella insurance premiums are affordable and can be customized to fit your specific needs.

In conclusion, NJM’s umbrella insurance provides additional liability coverage and protection for your personal assets at an affordable price. It is an important type of insurance to consider for individuals and businesses who want to have peace of mind and protect themselves from financial losses in the event of a lawsuit.

Umbrella insurance is a type of policy that provides additional coverage beyond what is offered by standard insurance policies. New Jersey Manufacturers (NJM) offers umbrella insurance to provide extra protection against unforeseen circumstances. Here are some of the benefits and coverage options that NJM umbrella insurance offers:

1. Increased liability coverage

With umbrella insurance, you can increase your liability coverage limits beyond what your underlying policies provide. This means that in the event of a lawsuit or accident, you’ll have more coverage to protect your assets.

2. Protection for personal assets

Umbrella insurance can protect your personal assets, such as your home, car, and savings, from being seized in the event of a lawsuit. This can give you peace of mind knowing that your hard-earned assets are protected.

3. Coverage for non-standard risks

Umbrella insurance can provide coverage for non-standard risks that may not be covered by your standard insurance policies. For example, if you have a home with a swimming pool, your standard homeowner’s insurance policy may not provide coverage for accidents that occur in the pool. Umbrella insurance can provide additional coverage for these types of risks.

4. Legal defense costs

Umbrella insurance can also provide coverage for legal defense costs in the event of a lawsuit. This can include attorney fees, court costs, and other legal expenses.

5. Worldwide coverage

NJM umbrella insurance provides coverage worldwide, which can be especially beneficial if you like to travel or have assets located outside of the United States.

In conclusion, NJM umbrella insurance can provide additional protection beyond what is offered by standard insurance policies. With increased liability coverage, protection for personal assets, coverage for non-standard risks, legal defense costs, and worldwide coverage, you can have peace of mind knowing that you’re protected in the event of an unforeseen circumstance.