Regardless of how well we prepare, there will always be unexpected events and expenses in life. Umbrella insurance from Continuum Insurance Group can help you meet these unexpected events. Keep reading to learn more about this service in North Carolina.
Umbrella insurance is a unique type of insurance product designed to provide coverage when other insurance policies have been exhausted. This type of coverage is ideal for individuals who need extra coverage or those at higher liability risk.
Each type of insurance policy you have will include a maximum payout amount. This is the most that the policy will pay for a claim event. If a claim event is more than that amount, then you are left to pay that out of pocket. This could cause unnecessary financial hardship.
The solution is umbrella insurance. An umbrella policy is not designed explicitly for any claim event but rather a backup policy that can pay when another type of policy is exhausted. For instance, if you were in an auto accident, and your auto policy had paid out the maximum amount for damages, and there were still more expenses to be paid, the umbrella policy could kick in to pay more toward those expenses.
The amount of umbrella coverage someone needs will vary from person to person. You can sit down with an insurance expert to discuss your particular details. They can help you determine a good amount of umbrella coverage. You will discuss your liability risks connected with work, hobbies, or other parameters. You can also discuss the amount of assets you would want to protect.
If you would like to learn more about umbrella insurance in North Carolina, please get in touch with us at Continuum Insurance Group. We will be happy to help you.
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704-230-0035
704-230-0035
