What Umbrella Group Insurance Policies Can Do
Individual liability policies provide private individuals with protections above and beyond that included with a standard insurance policy. Group Umbrellla Insurance in Westchester New York gives the same kind of security to many individuals at the same time. This kind of policy is often purchased by professional organizations who wish to add an extra layer of insurance protection to the people working for them.
Umbrella insurance or umbrella liability refers to a wide-ranging form of liability protection that increases the dollar amount of all lines of coverage present in an existing policy. A group policy is one that distributes individual risk across a broad population of people so the overall cost of insurance is more affordable. Thus, Group Umbrellla Insurance in Westchester New York gives the advantages of excess liability coverage to a large group of people while still being an affordable insurance option.
The Unique Advantages of Group Umbrella Policies
The benefits of having Group Umbrellla Insurance in Westchester New York don’t end with affordability and added protection. An umbrella policy extends any existing coverage to assets that may not be covered in the initial policy; this can include off-site property holdings and similar assets. Group policy premiums can be easily deducted through standard payroll procedures at the same time that other deductions are made. All the benefits of this policy will go to work immediately without anyone being inconvenienced.
Just as a group health insurance policy benefits an entire organization, so does a group umbrella policy. Employees and off-site assets can all be protected at a reasonable rate by one of these convenient policies.