Gimbel Insurance Agency

If you live in a co-op or own a condominium, a regular check of your insurance is important to make sure you have adequate coverage. While there are probably two policies in effect – yours and the association's – do they provide sufficient protection? For added peace of mind, add an umbrella excess liability policy to cover what the other ones do not.

If you decide to take a chance and go without umbrella insurance, don't look at accident statistics. The National Center for Health Statistics says there are more than 31 million injuries in the U.S. each year that require hospitalization.

In addition to covering damages that may be awarded to a plaintiff, an umbrella insurance policy will also pay your legal fees if you are taken to court. There are different levels of coverage, so discuss your situation with your insurance agent.

One type of coverage provided by umbrella insurance is bodily injury liability. Basically, this coverage is designed to cover the cost of damages to another person’s body, including the cost of medical bills and any liability claims that may result from this.