Q: I know umbrella insurance is sometimes necessary for coverage gaps, but how do I know if it is necessary? Does LVIC offer umbrella coverage?

A: As with any coverage questions, we suggest you go right to your independent agent for the answers. If he or she can’t tell you right away, the agent’s easy access to an LVIC underwriter will give you the answer you seek quickly.  Umbrella coverage is offered under all our major lines of coverage— your home, your business and your farm. Our commercial umbrella covers over and above the retained limit of your policy and is essentially a protection against catastrophic loss. Our personal umbrella serves a similar purpose covering net losses beyond the limit of your primary policy that are not business-related.

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Did You Know?

Andrew Castaldi, a natural hazard expert for Swiss Re, says, "Despite 2013 being a relatively quiet year, we expect insured losses on average to continue to grow at a pace of doubling every 10 years."  Castaldi continued, "Overall, we were pretty lucky, especially in the United States, but we should never lose sight of how devastating these events can be."