An umbrella insurance policy in Asheville, NC is not required but it does have several benefits. This type of policy is designed to protect you from any major claims and helps protect not only your current assets but also future assets. An umbrella policy will be a separate policy from your auto and home insurance, but it won’t kick in until the limits on those policies are exhausted. You are required to have the minimum limits on auto and home insurance before you can get an umbrella policy. An example is if your auto insurance only covers $300,000 liability but you have an accident that leaves another driver with $500,000 of medical bills, then the umbrella policy will pay for that additional $200,000. Umbrella policies also have limits but those are less likely to be an issue. You may find that an umbrella policy is cheaper than you think and can be a better option than increasing the limits on your other policies. An agent at Asheville Insurance Center can help you determine how much coverage you need. Umbrella policies can also cover extra things that homeowner’s insurance may not normally cover.
An umbrella policy in North Carolina will give you extra coverage. Many people with higher risks, such as those who have children, a pool, or a balcony, could want umbrella coverage because they are more likely to get sued when someone gets hurt. You could be sued for more than you can afford and for higher than the limits of your insurance, which means you will be left to pay for those damages out of pocket. If you have a long commute, you could be at a greater risk for causing an accident and can also be sued. You could be sued for your savings, investments, retirement, and future earnings.
Contact Asheville Insurance Center, serving both North & South Carolina, to get a quote on umbrella insurance.
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