The Need
Jury awards, out-of-court settlements and legal fees routinely run into the hundreds of thousands – even millions – of dollars and can far exceed your homeowners, automobile and boat policy liability limits. An umbrella insurance policy covers the difference between what your primary policy covers and a potentially catastrophic judgment.
What’s At Stake?
A teenage driver killed two passengers in another car and seriously injured a third in a head-on collision. A jury found the teenager negligent and awarded $1.5 million to settle the claims. His parents had an auto policy with a $300,000 per claim liability limit. Their umbrella policy paid the excess $1.2 million.
A boy suffered lacerations to his lower legs and thigh when his neighbor’s dog bit him. The neighbor’s homeowners policy covered $300,000. Her umbrella policy paid the rest of the $500,000 liability judgment against her.
What’s Covered?
A personal umbrella policy covers excess liability judgments for loss, injury—even death—caused by negligent acts. Coverage kicks in when your homeowners, automobile or watercraft policy is used up.
- Protects your assets and future earnings.
- Protects against claims your home, auto and watercraft policies don’t cover.
- Applies anywhere in the world.
- Pays for defense costs and attorneys’ fees not covered by your other policies.
Click here for a Personal Umbrella Brochure in PDF format.
- Fast, face-to-face response. We settled 90% of Hurricane Isabel claims in 60 days and 90% of Ernesto claims in 30 days. We have independent agents in 185 locations throughout Virginia.
- Valued customer discounts. If you have both your homeowners and your automobile insurance with us, you get a 25% discount on your automobile policy and a 10% discount on your homeowners policy. If you haven’t had a ticket in three years, you may qualify for a 15% discount on your automobile insurance. And, we offer additional discounts to non-smokers and other responsible policyholders.
- Financial strength. The world’s largest and most authoritative source on insurance carriers’ financial strength and ability to pay claims, AM Best, rates us A- (Excellent). Demotech, a leading financial analysis and actuarial consulting firm, has rated Northern Neck Insurance Company A” Double Prime, unsurpassed in financial stability.
- Convenience. In addition to home and auto insurance, we offer boat, umbrella, home office, equipment breakdown, identity theft and extended replacement coverage. So you can get all of the coverage you need in one place, with one point of contact, when you have a claim or a question call your local independent insurance agent.
This is not an offer to contract. Policies contain limits, exclusions and conditions that are not listed here. For full details about your specific coverage, please consult with your agent and read your policy carefully.
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