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.