Personal Umbrella Insurance in Raleigh

A personal umbrella insurance policy can help when a liability claim exceeds the limits of an existing coverage. It can provide an additional layer of financial coverage against the unexpected that could otherwise lead to financial strain. At Alan Insurance Services, we’re here to make insurance easy for you and your loved ones so you can focus on what truly matters. Contact us today to learn more about our solutions or to get a quote.

Personal Umbrella Insurance and Its Coverages

Personal umbrella insurance is a policy designed for broad financial protection, specifically when the liability limits of your primary insurance policies (e.g., home or auto insurance) have been exhausted, and you need a backup. It offers an extra cushion of financial security, which may be essential following liability situations, such as third-party damages, for which you’re responsible.

Not all policies are the same, and what personal umbrella insurance covers may vary depending on one’s situation, coverage limits and other primary insurance policies. However, most umbrella policies may commonly include the following coverage areas:

• Property damage liability may cover costs involving damage to someone else’s property, such as vehicles or homes, that exceed auto or home liability insurance limits.
• Bodily injury liability may cover medical expenses and lost wages if you’re held responsible for injuries sustained by others, providing additional financial protection beyond auto and home insurance liability limits.
• Legal fees may financially assist with legal defense costs and settlements that exceed your primary liability insurance limits if you’re sued for a covered incident, helping to ensure you’re financially supported during legal challenges.

Like other insurance solutions, personal umbrella insurance has its own policy limits. Assessing and building the right coverage plan for your specific needs and goals is vital to adequately protecting your assets and limiting liability exposure. Therefore, working with an experienced agent who can help you throughout the process is always best.

How Much Personal Umbrella Insurance Do I Need?

Determining the appropriate amount of personal umbrella insurance depends on various factors, including your assets, income, primary insurance policies and potential liabilities. Additional factors, such as the value of your home, savings, investments and future earning potential, may also be considered when determining the level of protection needed. With the guidance of a trusted insurance agent, a thorough assessment of your financial situation and risk exposure can help identify the appropriate coverage limit.

Secure Coverage Today

Let us make insurance easy for you, ensuring the protection of your financial future with ease. Contact Alan Insurance Services at 984-217-4297 to speak with one of our knowledgeable agents who can assess your needs and provide customized coverage solutions.