Why Umbrella Policies Make Sense

If you have homeowners and auto insurance, or any other combination of personal insurance policies such as condo insurance, more than likely your independent insurance agent will recommend considering adding umbrella coverage as a secondary policy. Umbrella policies cover additional liability over and above what your primary policies cover. In today’s litigious environment, the liability protection they provide makes sense for many policyholders.

What does umbrella insurance cover?
Umbrella insurance will cover you if you face liability for property damage or injury to yourself or others and associated legal defense costs. The umbrella policy covers liability that exceeds the amount of your primary policies.

For example, if you have a homeowners policy that includes up to $500,000 in liability, an umbrella policy would kick in if you were at fault in an accident in which the victim was awarded more than $500,000 in damages. This is why umbrella insurance is also called excess liability insurance.

How much does umbrella insurance cost?
Besides the protection and peace of mind umbrella insurance provides, perhaps its best feature is how affordable it is. While rates vary depending on your claims history, where you live and other factors, $1 million of umbrella coverage can cost less than $200 a year (less than $17 a month).

How much umbrella coverage should you have?
This depends largely on the value of your assets, any investments, your income, and future earning potential. Your assets and income are at risk in a lawsuit. It is important to consider what kinds of risks you face as well as the value of your assets and the potential loss of income you might face in the event of an accident in which you are found liable.

If you would like to discuss whether you need an umbrella policy, call us today. We will review your current coverages and deliver several options for you to consider.

Contact Us

Find A Local Agent

Looking for a trusted insurance partner you can count on? Look no further. Correll Insurance Group is here to serve you as we have served many generations throughout the Carolinas over the past 90 years. Our teams of independent insurance agents look forward to providing competent, competitive, and caring service that’s also convenient for you or your business.

correll insurance group >> 

Adams, Eaddy & Associates

Columbia, SC
(803) 254-9404
branch details

Bowery Insurance Services

Kingsport, TN
(423) 288-8347
branch details

Carolina Insurers Associates

Tabor City, NC
(910) 653-8835
branch details

Cashiers Insurance Agency

Cashiers, NC
(828) 743-2209
branch details

Carter Glass Insurance Agency

Raleigh, NC
(919) 781-1973
branch details

Chandler Insurance

Greenville, SC
(864) 232-1591
branch details

Citizens Insurance Agency

Anderson, South Carolina
(864) 226-0354
branch details

Correll Insurance Group of Charleston

Mt. Pleasant, SC
(843) 486-8711
branch details

Correll Insurance Group of Gaffney

Gaffney, SC
(864) 489-5788
branch details

Correll Insurance Group of Hilton Head

Hilton Head Island, SC
(888) 668-8082
branch details

Correll Insurance Group of Inman

Inman, SC
(864) 472-2129
branch details

Correll Insurance Group of Rock Hill

Rock Hill, SC
(803) 324-2984
branch details

Correll Insurance Group of Spartanburg

Spartanburg, SC
(864) 583-5445
branch details

Correll Insurance Group of Union

Union, SC
(864) 429-8819
branch details

CWS Insurance Agency

Spartanburg, SC
(864) 583-1451
branch details

CWS Insurance Agency - Gaffney

Gaffney, SC
(864) 583-1451
branch details

David A. Crotts & Associates

Greenwood, SC
(864) 223-8788
branch details

Fields Insurance

Columbia, SC
(803) 708-3775
branch details

Gardner Associates Insurance

Columbia, SC
(803) 978-2000
branch details

Godwin Insurance Agency

Greensboro, NC
(336) 379-8640
branch details

Insight Risk Management—Collins

New Albany , MS
(662) 534-7676
branch details

Insight Risk Management-Cordova

Cordova, TN
(901) 278-5375
branch details

Insight Risk Management-Marion

Marion, AR
870-739-2883
branch details

INSURE

Raleigh, NC
919-781-1115
branch details

J. Mark Bowery Insurance

Kingsport, TN
(423) 288-8347
branch details

Jerome and Summey Insurance Agency

Brevard, NC
(828) 884-4161
branch details

John T. Cook & Associates – Loris

Loris, SC
(843) 756-7460
branch details

John T. Cook & Associates – Myrtle Beach

Myrtle Beach, SC
(843) 626-9491
branch details

Landrum Insurance Agency

Landrum, SC
(864) 457-3328
branch details

Lowcountry Insurance & Financial Services

Pawleys Island, SC
(843) 237-1353
branch details

Lowcountry Insurance Services

Port Royal, SC
(843) 522-2020
branch details

McB Group Insurance Group

Pittsboro, NC
919-642-0475
branch details

McInturff, Milligan & Brooks

Greeneville, TN
(423) 639-5171
branch details

SFI Group - Sneads Ferry

Sneads Ferry, NC
(910) 327-3388
branch details

Smith-Berclair Insurance

Memphis, TN
(901) 753-4323
branch details

SouthPoint Risk-Nashville

Nashville, TN
(615) 356-3212
branch details

SouthPoint Risk-Clarksville

Clarksville, TN
(931) 647-6400
branch details

SouthPoint Risk-Dickson

Dickson, TN
(615) 446-2814
branch details

SouthPoint Risk-Knoxville

Knoxville, TN
(865) 584-1115
branch details

SouthPoint Risk-Maryville

Maryville, TN
(865) 983-3872
branch details

SouthPoint Risk-McMinnville

McMinnville, TN
(931) 473-9641
branch details

SouthPoint Risk-Russellville

Russellville, KY
(270) 726-3638
branch details

SFI Group - Surf City

Surf City, NC
(910) 329-4443
branch details

The Boyd Agency

Williamston, NC
(252) 792-5125
branch details

The Phoenix Company

Winston Salem, NC
(336) 765-9332
branch details

The United Insurance Agency

Simpsonville, SC
(864) 984-4548
branch details

WC Dillon Company

Nashville, TN
(615) 269-7887
branch details

Parks & Associates Insurance

Dover, TN
(931) 232-9919
branch details

Error Message