(252) 438-8373

Umbrella Insurance

Umbrella Insurance Overview


Good, affordable umbrella insurance can be a no-brainer, especially for some individuals in particular. It is a kind of coverage that provides extra liability protection and is often utilized to protect covered individuals from potential lawsuits and the enormous claims that are often awarded to the legal victors. Having this extraordinary coverage can help to protect the policyholder and his or her assets, not to mention a family’s financial future.

How does work?

Umbrella insurance gives policyholders an extra level of coverage that goes beyond the normal limits of standard coverage, whether it is to build up protection for your home, your car, your boat and more. It can also cover one from libel or slander, false arrest and even from legal action directed to, for example, a landlord who is facing a disgruntled renter. It is designed to kick in when the liability limits on existing insurance policies have been exhausted.

Who benefits?

Umbrella insurance can be a financial godsend for policyholders who own property they rent out. It protects the landlord from many adverse actions, like slip and fall claims, dog attacks or from the result of an injury if a person were to visit a rental unit and be hurt. Those who experience an auto accident or some other kind of event in which property is damaged can also benefit greatly from this coverage as well. A policyholder who is held liable for an injury to another as a consequence of an accident or some other event, like the aforementioned dog attack, is also protected with umbrella coverage.

How it works

This kind of policy is designed to come into play when an extra added layer of protective coverage is needed due to the normal insurance limits being exhausted. It is yet another way for a person to be fully protected from out-of-pocket payments that often can result in financial disaster.
Coverage is generally made available in levels beginning at 1 million dollars. Larger limits are also available for those who have more wealth and greater assets. The main benefit of this kind of coverage is, again, built-in asset protection. This also means a priceless sense of peace of mind for all who have it. In short, this is big coverage for a relatively small cost. For those of more average financial means, this coverage can still benefit them greatly, only with less coverage and a lower premium. No one need be excluded.