Umbrella insurance is a great way to get more coverage added to two policies that you already have. These are your home and auto policies. Both policies are vital for protecting yourself financially, but they can be lacking in some areas. That’s where umbrella insurance comes in to shore up what they lack. If you need more policy coverage for your home and auto policies, call us at Cary-Wheeler & Associates Inc. in Richmond, VA to learn more about umbrella insurance.
Umbrella Insurance and Liability Coverage
When you have a home policy and an auto policy, each comes with several types of coverage. One of these is liability coverage. The problem lies with the amount of liability coverage these policies have—it often isn’t much. This can leave the policyholder to pay for bills left over when their policy doesn’t have enough of this coverage to pay for an accident. Umbrella insurance is a single policy that adds more liability coverage to both of these other policies at the same time.
Paying the Overage After an Accident
If an expensive accident happens that your home or auto policy doesn’t have enough coverage to pay, this can leave an overage for which you’re responsible. By adding extra liability coverage to both, there is still more coverage available once the home or auto policy has reached its maximum payout. This pays for that overage so that you won’t be responsible for it after a severe accident that comes with a lot of bills. This is important for protecting yourself financially in the face of what could be enormous bills.
Get Umbrella Insurance in Richmond, VA
Umbrella insurance may be ideal when you need more liability coverage. Call Cary-Wheeler & Associates Inc. in Richmond, VA, to get started.