We’ve all heard the old folk wisdom about putting some money away “for a rainy day.” It simply means having a little bit extra on hand when you need it, especially for unexpected emergencies. In most cases, when it comes to your car or your home, the existing insurance policies you have will be sufficient for most of the mishaps that might befall you. But if you want even more piece of mind, insurance also has its own, extra-strength “for the rainiest of rainy days” policy, which is why it’s called the personal umbrella policy.
When Standard Is Not Enough
If, for example, your home were to fall victim to a fire, as traumatic as the event might be, your standard home insurance is there to protect you. But if that fire were to spread to a neighboring home, and the owner of that home felt that this was somehow your fault, you might end up having to deal with not just a fire, but litigation as well. Home insurance will cover your fire damage, but not the lawsuit.
A personal umbrella policy, however, would provide extra financial protection in a case like this. It goes above and beyond the coverage you expect on just the maintenance of your car or home and covers many other instances. It’s a big step up in financial protection that’s designed to be the buffer you didn’t even know you needed when something massive, unexpected and unpredictable occurs. Some of the situations that umbrella policies have been used for range from slander, invasion of privacy and even false arrest, to situations in driving where damage paid out is in huge amounts.
Personal umbrella policies typically involve much higher amounts of money, for exceptional situations. If you want the ultimate “just in case” protection for your home and your car, a personal umbrella policy is a good place to start. Talk to us to find out more about Raleigh personal umbrella insurance.