Who can benefit from umbrella insurance

Many types of insurance products include liability coverage. Liability coverage pays for medical and property damage caused by you or a member of your family. It also helps pay for legal fees and a judgment against you due to an accident or injury. At Asheville Insurance Center in Asheville, NC, we are locally owned and operated. As an independent agency, we offer our customers more choices. Our years of experience help us provide our customers with the information they need to make educated choices. 

If you have an insurance policy with liability coverage, you can probably benefit from umbrella insurance. Umbrella insurance adds more protection for your assets with an additional layer of liability protection. It is not a stand-alone policy to buy; you have to already have an insurance policy with liability coverage. It is an excess liability, above and beyond the liability that your policy already has. 

As many as 10% of people get sued every year. That is a lot of people and a lot of legal fees. If you have fundamental liability coverage, you may find that you have a lot of money you will have to pay out of your pocket. You can end up losing your assets and having your wages and future earnings garnished. You could suffer from decreased wages for years over one judgment. Having an umbrella policy could save you from this outcome. 

If you have any assets, you can benefit from umbrella insurance. It will work with your auto, home, boat, and condo insurance. It even works well with renters insurance. You don’t have to own a home to have assets; you may even have both a home you own and one you rent. 

If you have questions you need to be answered about umbrella insurance, call Asheville Insurance Center in Asheville, NC, or visit the office. We can provide a no-obligation quote.