Umbrella insurance is a unique type of coverage that adds coverage onto certain other insurance policies that you have. It works with your home and auto policies to expand the amount of coverage that you have. If you have both home and auto policies, you may believe that you are well-protected. However, you may not have much coverage in some areas. That’s why people are getting umbrella insurance to supplement the coverage they have. If you are interested in one of these policies, give us a call at Higgins & Halloran in Columbia, SC.
In your home and auto policies, there is liability coverage for each of them. However, it may not be much coverage. Many policies come with very little liability coverage, and this may not pay for a serious accident. Getting umbrella insurance is a great way to add more liability coverage to the policies that you already have. An umbrella policy adds an extra layer of protection onto the liability coverage in your home and auto policies to better protect you financially in case of accidents in your vehicle or home.
How Umbrella Insurance Works
When an accident occurs and you have an umbrella policy, there are two different insurance policies that will pay for the accident. Whether it’s an accident in your vehicle or your home, when a third party gets injured, and it’s judged to be your fault, you will be liable for the medical bills that come next. First, your auto or home policy comes in and pays up to its maximum. Then, your umbrella policy steps in to pay what is leftover. Umbrella policies are reasonably priced and have very high maximums so that you are well-covered.
Get Your Umbrella Policy
If you have a home and an auto insurance policy, you would likely be better protected with an umbrella policy as well. If you are interested in one of these policies, call us at Higgins & Halloran in Columbia, SC.