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Umbrella Insurance

Umbrella InsuranceAt Trey Siner Insurance Group, our goal is to offer you maximum protection for every aspect of your life so that you will be prepared for any situation that may arise. One way that we can offer you this extensive protection in North and South Carolina is through an Umbrella policy. An Umbrella policy, also called an Excess Liability Policy, covers over your other liability coverages (like an umbrella covers you from rain) to provide an extra layer of protection. This type of policy is used to cover catastrophic losses, as well as losses from unforeseen issues such as libel or slander, that ordinary policies do not cover.

A personal umbrella policy would include your auto liability and your personal liability on all of the property you own, as well as items such as boats, RVs, and motorcycles. With a commercial umbrella you would extend coverage over your general liability, commercial auto liability, garage liability, employers liability and more. An umbrella policy is a cost-effective way to make certain you have enough coverage for defense costs and lawsuit settlements.

The umbrella policy is written over your existing policy and generally serves three purposes: it provides excess limits when the limits of underlying liability policies are exhausted by the payment of claims; it drops down and picks up where the underlying policy leaves off when the aggregate limit of the underlying policy in question is exhausted by the payment of claims; and it provides protection against some claims not covered by the underlying policies, subject to the assumption by the named insured of a self-insured retention (SIR).

When an insured is liable to someone, the primary insurance pays until those funds are exhausted, and the umbrella policy takes the insured’s primary insurance policies pay up to their limits, and any additional amount is paid by the umbrella policy (up to the limit of the umbrella policy).
Examples of liability that an umbrella policy may cover that a homeowner’s policy often excludes include:

  • Libel
  • Slander
  • Invasion of Privacy
  • False Arrest
  • Various court/defense costs

Remember, you do not have to be guilty of something to be sued – the defense cost coverage in an umbrella policy is important protection for everyone.
Umbrella insurance policies make it so that you do not have to worry about unforeseen incidents and provide an extra layer of security so that you can feel comfortable with any and every insurance situation. Call us today, and we can set up an Umbrella policy tailored specifically to your needs.