At Craig Insurance Group in Raleigh, NC, we’ve observed a growing trend in claims that could be covered under umbrella insurance. These policies offer added liability coverage beyond your primary policies, including auto and homeowners insurance. This article will highlight scenarios where umbrella insurance can be incredibly beneficial.

Situations Where Umbrella Insurance is Advantageous

Numerous unexpected situations occur in our everyday lives. Preparation for such incidents can be significantly boosted with a personal umbrella insurance policy.

Homeowners Protection

In addition to your primary policy, umbrella coverage can cover expenses exceeding your liability insurance. This additional coverage can be beneficial if someone sustains injuries on your property or causes damage to another’s property.

Automobile Accidents

This scenario offers a compelling argument for considering umbrella policies. Standard auto insurance policies might not cover the complete cost of damage resulting from severe accidents causing extensive injuries or property loss. An umbrella policy can fill in this gap.

Social Host Liability

If an event you host sees a guest sustain injuries or property damage occurs, your umbrella policy might offer essential protection.

Defamation or Invasion of Privacy

If a personal dispute escalates into legal matters in this modern digital era, umbrella insurance can offer a comprehensive layer of coverage if you find yourself amid defamation or invasion of privacy claims.

Prepare for Unexpected Incidents

If you want to be prepared to tackle the potential hazards of daily life, contact Craig Insurance Group in Raleigh, NC, to learn more about umbrella insurance coverage. We’ll guide you toward an appropriate policy and provide a coverage quote.

For some people, purchasing the least number of insurance policies for their personal or business needs may seem like the best course of action so they can simplify their lives in Raleigh, NC. It’s tempting to think an umbrella insurance policy will cover all perils, but that’s not necessarily true. The team at Craig Insurance Group can explain why you need more than umbrella insurance to protect yourself.

What is Umbrella Insurance?

Umbrella insurance is an add-on policy that will give you additional liability and legal protection beyond the limits of standard insurance policies. If you have one for your business, you’ll also need a separate one for your home and vice versa. The policies work best for high-worth individuals who need protection from excessive lawsuits. Umbrella insurance won’t cover injuries or damage to your property. It also won’t cover reckless or unruly acts.

Other Types of Insurance to Consider

If you are a business owner, you should have a basic business operations policy (BOP) in place. Within this policy, you can request various provisions that fit your company and your specific industry. Among the types of coverage you may consider are professional liability, general liability, professional liability, business interruption insurance, and more.

Homeowners should protect themselves through a basic homeowner’s policy, along with a schedule of coverage for valuable personal property worth more than a deductible. Add-ons to a homeowner’s policy to consider include tropical storm and flood insurance, provisions for sewer backups, and various individual policies, including auto, health, and life insurance.

The world of insurance policies can be confusing, but our agents are ready to help you navigate your needs in Raleigh, NC. Contact the Craig Insurance Group office to schedule your consultation on finding insurance protection for your business or personal life.

There are plenty of different ways to protect yourself, and one of those ways is through the right type and level of insurance coverage. Even if you have other policies for individual areas of your life, that’s sometimes not enough. For additional protection in the Raleigh, NC area, you can work with Craig Insurance Group to get the umbrella insurance policy that meets your needs.

Here’s what to consider when choosing this kind of policy:

First, you want to work with a trusted agent to make sure you’re getting the level of coverage needed. A policy that doesn’t have enough protection isn’t going to give you the value you hope for. However, an insurance professional can talk you through what’s available and help you gain a better understanding of how specific policies could fit with your situation.

Additionally, you want to make sure you get all your questions answered, so you can select the right policy from the options available to you and update that policy as needed in the future. Umbrella policies are designed to offer you coverage beyond what your individual policies provide, in case you exceed the limits of the original policy with a claim. Like an umbrella protecting you on a rainy day, these policies are focused on overarching coverage in more than just one area.

Schedule A Consultation Today

If you’re in the Raleigh, NC area and considering umbrella insurance coverage, reach out to us at Craig Insurance Group today, and let’s talk about the protection options you have. There’s no reason to worry about the level of coverage you have with your current insurance policies when you could have additional coverage that goes above and beyond to increase your level and security and peace of mind for the long term.

Umbrella insurance is a type of voluntary indemnification. While there is no law in Raleigh, NC that compels residents to purchase a policy, this category of coverage is designed to work alongside other preexisting insurances. 

Why Umbrella Insurance?

This means that you can purchase umbrella insurance to supplement your auto insurance, homeowners, or commercial policies. Your standard insurance policy limits must be exhausted before the umbrella insurance kicks in, and these will typically have caps that are significantly higher than what your primary indemnification can offer. 

This is a good option if you have investments that are worth more than what your regular insurance will cover or if you potentially face hazards that could cost you significantly. Umbrella insurance policies can usually offer protection that runs into millions of dollars. 

Another benefit of umbrella insurance is that it will often offer subcategories of coverage that your standard policy does not include, and this will differ, depending on your contract. Ask your Craig Insurance Group representative for specifics on what would be covered. 

Your umbrella insurance can also extend to other members of your family who inhabit your home, for example, with homeowners insurance. Dog bites can be a covered peril, as can attorney’s fees with regard to lawsuits.

Umbrella insurance is usually inexpensive and works to protect your assets in the event that you encounter a costly life event. Parents of teenagers, for example, can be held responsible for paying exorbitant bills if a court of law finds their son or daughter liable in an automobile accident. 

Craig Insurance Group is Here To Help

We take pleasure in providing the residents of Raleigh, NC with insurance products and services to protect every area of their lives. Please reach out to us for more information by calling, reaching out online, or stopping by in person. We look forward to working with you. 

Many people have both home and auto insurance policies. Each of those policies comes with a number of different kinds of coverage. One of those is your liability coverage.

When an accident happens, your liability coverage is what pays for the medical bills and other costs that are due that you are responsible for. Home and auto policies come with this protection, but often not enough of it. When there is an overage after these policies have paid out, you are responsible for paying it. However, that’s not the case when you have umbrella insurance. To get yourself this coverage, reach out to us at Craig Insurance Group in Raleigh, NC.

Here is how umbrella insurance provides liability coverage:

Paying for Accidents

When an accident happens and someone is injured, and the accident is your fault, you are generally responsible for paying for the costs associated with it, including the medical bills that can be so expensive. If you don’t have much liability coverage in your home and auto policies, a bad accident can often eat through all of the payment from the insurance company and leave more for you to pay. To combat this, many people get umbrella insurance. It covers you by giving you more liability coverage so that you won’t have to pay those overages. 

After an accident has happened and someone is injured, your home or auto policy will come in and take the claim. They will then pay up until they reach the limit of your policy. If you have an umbrella policy, anything that is left over after that is paid for by the umbrella insurance. This can save you many thousands on medical bills and other expenses. 

Get Umbrella Insurance Today

To keep yourself better protected against liability, you need an umbrella insurance policy. Call us at Craig Insurance Group in Raleigh, NC.

Umbrella insurance is one of those types of insurance that makes most people just shake their heads. They are not sure exactly what it is and why they need it. At Craig Insurance Group in Raleigh, NC, we want to make sure that all of our clients know what umbrella insurance is and why it would be a good idea to have it. As independent insurance agents, it is our job to provide our clients with the information they need to make informed decisions about coverage. 

It is not surprising that the term umbrella insurance confuses people. It is not insurance that protects your umbrella. But, if you picture an umbrella and the type of protection it offers you from a rainstorm, you get a better idea of why it is called umbrella insurance. 

In order to purchase umbrella insurance, you already need to have a primary policy that has liability coverage. Umbrella is excess liability coverage above and beyond what your policy has. When you have an umbrella policy, it works with all the other liability coverage that you have. It can protect your assets from legal action from an auto accident, injury at your home, and more. 

What liability insurance does is protect your assets. If you have no assets, then you don’t need umbrella insurance, but most people have more assets than they realize. If you get sued, your assets could be lost to a judgment against you if you don’t have enough liability coverage. A typical umbrella insurance policy starts at one million dollars and goes up from there. With the size of judgments these days, having enough liability insurance is essential. You don’t need to be wealthy to benefit from this important insurance coverage.  

Contact Craig Insurance Group in Raleigh, NC for all your umbrella insurance needs. 

Umbrella insurance is also known as excess insurance. It is a type of liability insurance, and it is available for commercial or individual coverage. Liability is the equivalent of being legally responsible, and the dollar amounts for liability can be high. Umbrella insurance is there to protect you when your standard policies can no longer do so. Craig Insurance Group serving the city of Raleigh, NC is here to assist you to navigate the meaning of liability and the policies that provide cover for this.

Umbrella insurance works the same way that an umbrella would in the rain if you are already wearing a rain jacket. It helps protect you from a downpour. Umbrella insurance is not a primary policy and has to be purchased as an additional policy for when a disaster becomes a catastrophe. In simple terms, it means that you have experienced so much disaster that your standard or primary liability policies are exhausted. The umbrella insurance acts as a backup to help pay for any legal liabilities. When working with your umbrella insurance policy, it needs to tie in with your other more general liability policies and run concurrently. Furthermore, it may be that between your standard policy depleting and your umbrella insurance kicking in that you may need to pay a deductible.

Umbrella insurance policies will either offer duty to defend or indemnity coverage if there is a lawsuit. Duty to defend is when the insurer defends the insured in a lawsuit. Indemnity is when the insured pays for this defense first and may, depending on the policy wording, be reimbursed.

If you find yourself in a situation where there is a strong possibility of liability, then we recommend that you contact the Craig Insurance Group serving the city of Raleigh, NC today.

Most insurance coverage options only cover you up to certain existing limits. This means that there are specific limits that such plans may not cover. So, what do you do in case you need a plan that covers you beyond existing insurance limits in Raleigh, NC? Well, this is why umbrella insurance from Craig Insurance Group exists. 

What Is Umbrella Insurance Coverage? 

An umbrella insurance policy is a plan that offers the insured protection beyond existing limits. This option goes the ordinary to provide insurance coverage for instances of injuries, property damages, and specific lawsuits that exceed the scope of typical insurance coverage. 

Umbrella insurance cover often takes over, where most other insurance plans leave off. The policy makes you indispensable when you find yourself liable for a claim more significant than your insurance.     

Benefits of Umbrella Insurance Plan

You could be wondering what the fuss around umbrella insurance is all about, right? Well, this insurance option provides some key benefits, which most people don’t know about. Here are some key advantages. 

Cheaper Than Most Other Options

Compared to other personal insurance options, umbrella insurance is cheap. This is a unique aspect considering that umbrella insurance offers an extended plan. 

It’s Comprehensive

Most personal plans only cover the policyholder. However, when you consider umbrella insurance, you get coverage for members of your family and household. The plan also protects third parties. 

Get Coverage for Your Property and Beyond 

No insurance coverage can guarantee you protection for your property and beyond. This is more so considering the existing limits salient in most plans. However, our umbrella insurance plan at Craig Insurance Group offers more than what’s ordinary. 

Are you a resident of Raleigh, NC, and wonder where to get reliable umbrella insurance coverage? Contact our team at Craig Insurance Group today for reliable advice and coverage. It’s time to get covered.