Umbrella insurance typically provides coverage that is not offered by an individual's auto, renters or homeowners insurance. Incidents that generate liability due to personal injury or property damage can potentially result in monetary claims that are not fully covered by one's primary policies.  

Liability Limits Can Be Exceeded 
One of the most common scenarios that many individuals fear is a situation where monetary damages are awarded to another party that exceeds the liability coverage of an auto, homeowners or renters policy. If this happens, the policyholder becomes financially responsible for amounts not covered by the policy. Although such a scenario is not common, it has sometimes led to financial ruin for one without sufficient coverage. Umbrella liability policies offer "secondary coverage." That is, such coverage is designed to kick in only when the liability limits of a primary policy are reached.  

Closing the Gap 
Homeowners, renters and automobile insurance policies have very specific definitions of the types of liability coverage provided. An umbrella policy helps to fill the gaps in coverage between the policies.  

Coverage for Legal Defense 
The cost of a defense in a liability lawsuit can quickly skyrocket. However, one's primary liability coverage will only result in the carrier providing a legal defense until the policy's liability limit is reached. The greatly expanded liability limits typically found in umbrella policies address this potentially devastating scenario. If the liability limit of your primary policy is reached, additional legal defense costs can be paid by the carrier providing your umbrella policy.  

Very Affordable  
Because such scenarios are less common, the price to be paid to acquire peace-of-mind is relatively minor. Adding umbrella coverage to policies that cover your vehicle(s) and residence(s) add only a modest percentage to the annual cost of the premiums paid.  

Personal umbrella policies can prove to be very valuable in those rare and typically unforeseen situations where liability coverage on a primary policy proves to be inadequate to pay damages or legal defense costs. Umbrella policies address the fear of potential financial disaster and they do it at a very reasonable price.  

Get the coverage you need. Call William Viviano Agency for more information on North Carolina umbrella insurance.