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Who needs umbrella insurance in North Carolina?

If you are in the Oak Ridge, NC area, spending time to consider your insurance needs is a good idea. A form of coverage that many people will benefit from having is umbrella insurance coverage. This is a form of liability insurance that will provide coverage for a wide range of risks, which offers some valuable protection and support to policyholders in the area. There are a few reasons people here will want to have this protection. 

Coverage Protects Against Major Claims

A reason to have an umbrella insurance plan is that the coverage will give protection against major claims. Most people are going to have personal liability coverage included with their auto or home insurance plans. However, there is always a chance damage in an accident can exceed these levels. Fortunately, if you do have appropriate coverage, you will have protection against these claims. 

Coverage Offers Support for Wider Mix of Risks

You should also get an umbrella insurance plan to get support for a wider mix of risks. With an umbrella coverage plan, your liability support will include many risks that are not included under other standard insurance plans. This can help ensure you remain properly insured and prepared for situations and risks that are otherwise unexpected. 

Having an umbrella insurance plan in place can benefit many people in the Oak Ridge, NC area. If you would like to get a new plan in this area, calling Oak Ridge Insurance Services can be very helpful. As you are looking for umbrella coverage, you can quickly find out that there are a lot of choices to make. The team with Oak Ridge Insurance Services can help you assess your situation and give the support needed to choose a plan that meets your needs.

Who should have umbrella insurance

Umbrella insurance is one of the most misunderstood types of insurance. Many people have no idea what it is and what it does. In simple terms, it is a policy that extends the liability coverage that you already have on another policy. The visual of an umbrella is actually perfect, umbrellas protect you from rain and storms, and umbrella insurance protects your assets from the storms of life. Having a trusted independent insurance agent allows you to get a discussion started with them about how you could benefit from this important and affordable coverage. At Oak Ridge Insurance Services in Oak Ridge, NC, we are that agent. 

You don’t have to be a homeowner to benefit from umbrella insurance. Liability coverage is something you have on other policies, such as auto and renters insurance. Liability coverage protects you from extraordinary events that can be life-changing. If you are involved in an incident or accident that results in legal action, it can put your assets at risk. As an example, the average jury award in a car accident case is $300,000. If your liability coverage is $100,000, you are going to be $200,000 short. 

If you have an umbrella insurance policy, it will be from one to ten million dollars in additional liability coverage. The $200,000 will be picked up by your policy and the legal bills that came with that court case. Without it, you will have to tap your savings, or if you don’t have savings, your future wages can be attached. Lots of things other than a car accident can result in a judgment against you. An umbrella insurance policy has great value and benefits to anyone who has an insurance policy with liability. 

To discuss this coverage’s benefits, call or visit Oak Ridge Insurance Services in Oak Ridge, NC. You will be happily surprised at how affordable and easy to understand umbrella insurance is. 

Brent Schroyer

Brent Schroyer

Insurance Advisor
Chastity Spofford

Chastity Spofford

Insurance Specialist

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