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What are the Key Benefit of Umbrella Insurance?

Do you live, work, or play in and around Oak Ridge, NC, and are looking for an effective way to enhance your current liability insurance? If so, an umbrella policy might be an innovative and affordable solution. According to the insurance professionals at Oak Ridge Insurance Services, the fundamental purpose for obtaining umbrella insurance is the extra protection it offers regarding the coverage of legal costs and resulting damages that exceed the upper limits of existing insurance policies.

More specifically –

  • Umbrella Insurance is a type of insurance coverage that is activated when an insured individual reaches the limits of an existing policy.  
  • Umbrella Insurance provides a practical option that allows someone to safeguard their financial future.

Umbrella Insurance – The Key Benefits

Because umbrella insurance adds liability coverage over and above the limits of existing insurance policies – i.e., an auto, home, or boat insurance policy, it provides enhanced protection (and peace of mind) against unanticipated and disastrous events.

Umbrella insurance is typically available in various or optional coverage limits, which usually begin at one million dollars and increase incrementally. Consider the following when shopping for umbrella insurance –  

Your Exposure to Risk

Do you have an asset or property that creates a larger liability risk? Is the property an investment? Does it have a pool? Is the insured a business owner?

Potential Legal Expenses

Umbrella insurance provides coverage for expenses/damages related to litigation and other legal matters should the insured be found to be legally responsible.

Reach Out To Us

One’s need for umbrella insurance varies based on your personal situation and objectives. For more information, North Carolina residents should contact Oak Ridge Insurance Services, a leading Oak Ridge, NC insurance company today.

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