Umbrella insurance is so named because the coverage is like an umbrella over your existing liability insurance, such as your home and auto policies. Your umbrella policy provides extra liability coverage for unforeseen circumstances that result in injury, property damage or death, particularly if a liability claim results in a lawsuit. North Carolina umbrella insurance can be the difference between an unfortunate accident and permanent financial difficulty for you and your family.
Regardless of our best intentions, we all are at risk of errors or negligence that result in harm to another person. Umbrella liability coverage can protect you financially from that risk. An independent agent in the Trusted Choice® network can provide several North Carolina umbrella insurance quotes from various insurance companies for you to compare. Contact your local member agent today to find out whether umbrella coverage makes the most sense for your specific situation.
Under most circumstances, umbrella insurance provides protection above home and car insurance:
In today's world of high medical costs and litigation for just about anything, those minimums may barely cover legal fees.
While umbrella or extra liability insurance usually comes into play as an addition to the coverage you already have, there are also circumstances when people file claims for which you have no other protection. Here is a summary of those:
Your Trusted Choice member agent can help you determine which other perils are covered and which require a more complete North Carolina umbrella insurance policy.
The following are some examples of cases in recent years where North Carolina umbrella insurance could have been beneficial:
In each of these cases, someone's error or act of negligence resulted in a large lawsuit. In these events, the cost of legal defense and the cost of the judgment awarded to the injured can be covered by an umbrella policy, if there is such a policy in place. Otherwise, these costs must be paid out of pocket. If the funds are not available, the costs can come from savings, investments and even future earnings.
Many people are under the impression that if they have few assets, they do not need to be concerned with an extreme financial loss. The fact is that a legal judgment can lead to a choice between bankruptcy and lifetime payments to compensate someone you injured, regardless of your best intentions.
If you are like most people, you may assume that if you have homeowners and automobile liability insurance, you are well protected. However, it may be time for a full assessment of your coverage, risks and concerns. You may find that your minimum coverage does not nearly approach your actual risk.
Additional liability insurance can be surprisingly affordable. The annual premium for up to $1 million of protection is typically under $200. To get accurate North Carolina umbrella insurance quotes, start by getting in touch with a nearby agent in the Trusted Choice network.
A local member agent can help you compare several different options and quotes, answer all of your questions, and help you find the right coverage for your needs and budget. Find a member agent today and get peace of mind.