from Northern Chesapeake Insurance Services
A personal umbrella policy is an insurance policy designed to extend the overall liability coverage provided by your auto, homeowner’s, motorcycle, renter’s, or condominium policy, and acts as an "umbrella" over and above these coverages. Simply stated, an umbrella affords you protection against devastating claims and judgments.
An umbrella policy kicks in when the limits of your primary policy (auto, home, etc.) are exhausted, or are subject to certain exclusions. As a result, your current assets and your future earnings are better protected.
You've worked long and hard to get to where you are today. You own a home and a variety of personal possessions, some of which may have been expensive. You've done your duty and pinched pennies to save for retirement, all in an effort to provide for your family's present well being, as well as their financial security in the future. But, if you aren't protected by an umbrella, everything you've worked for could be at risk because of a single accident or lawsuit.
Though you try to avoid them, accidents happen. And, even though you believe you have adequate coverage under your other insurance policies, you may need more protection. Costs to cover property damage, injuries to others, legal expenses from lawsuits and related court awards could quickly exceed the limits of your policies.
The following everyday examples help illustrate why you need extra protection:
Even if you have a modest income and assets, you can unexpectedly find yourself being sued because you were involved in a major auto accident or because of an unfortunate mishap on your property.
An umbrella policy is a low-cost policy designed to protect you, your family and your future against catastrophic lawsuits and judgments.
Making such a personal decision about your options is yours and yours alone under the law. When you work with the Independent Agents at Northern Chesapeake Insurance Services, Inc., your interests come first! Our agency's job is to help provide you with information on these choices so that you can make informed decisions.
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