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Columbia, SC 29229

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Why You Should Be Protecting Your Watercraft With Boat Insurance

Protecting your watercraft doesn’t stop with physical locks and alarm systems, or even with careful piloting when you’re out on the water. Boat insurance is an important part of protecting any watercraft you have. If you’re in the Columbia, SC area and are looking for ways to better protect your watercraft, New American Insurance is here for you!

You deserve a well-thought-out policy that you can both understand and feel secure with.

Protecting Your Watercraft: What You Need To Know

Boat insurance is a smart investment in the safety of your boat and anyone aboard it. A boat insurance policy works to financially protect you in the event of injury or damage you may cause to others while boating. Insurance will also help cover the cost of your boat or trailer that is physically damaged or stolen.

Your time on the water should be fun and relaxing – you shouldn’t have to spend it concerned about what may happen to you financially in the event of an accident. Having proper insurance provides a safety net in the event of the unforeseen, which gives you more peace of mind.

Give Us A Call

Contact us today at New American Insurance if you’d like to start protecting your watercraft with boat insurance, or would like to speak with one of our agents about your options. We’re proud to serve the Columbia, SC area and are committed to helping you find the best policy for your needs.

You deserve a policy that will protect you, now and in the future, so you can relax and enjoy your life. Insurance can seem like a headache to navigate, but we’re here to help you make sense of it all and find the policy that’s the best fit for you.

Do I Need Umbrella Insurance If I Have a Good Health Insurance Policy?

It’s no secret that the cost of medical care in the United States is among the most expensive globally. This is why many Columbia, SC residents prioritize getting good health insurance. Over the last couple of years, more and more residents have been purchasing umbrella insurance. At New American Insurance, we have had numerous people ask us whether they need umbrella insurance or if they already have an outstanding health insurance policy. You need umbrella insurance even if you have good health insurance. Here is what to know.

What Is Umbrella Insurance vs. Health Insurance?

Umbrella insurance can be defined as excess liability insurance. It provides extra coverage beyond what a regular auto, homeowners, or boat insurance covers. Umbrella covers your and your family’s liability for medical bills, property damage, or settlement to other persons that surpasses the maximum policy limits of your standard insurance policies. On the other hand, health insurance covers the medical care you and your family receive. 

What Does Umbrella Insurance vs. Health Insurance Cover?

Umbrella insurance covers court fees, legal defense fees, and the settlement if someone sues you or your family for property damage or injury. Additionally, it also covers the medical bills of the person injured either in your home or by or in your vehicle. In contrast, health insurance strictly covers your and your family’s medical bills.

How Does Umbrella Insurance vs. Health Insurance Work?

For umbrella insurance, let’s say your auto policy has a maximum policy limit of $100,000, and you cause injuries or property damages amounting to $250,000 in liabilities. Your auto insurance will pay $100,000, and your umbrella insurance will pay the $150,000 balance. In contrast, your health insurance will pay for you and your family’s medical care up to the policy limit. However, your umbrella policy won’t cover the excess of your health insurance.

Contact New American Insurance in Columbia, SC for more insurance info.

How Much Auto Insurance is Enough?

Car insurance is a superb investment that protects your car, yourself, and your passengers. While car insurance can be a life-saver, are you carrying enough coverage? We often see clients frustrated after an accident when they discover their policy only covers a portion of their financial loss. You could be renewing your premiums every year, but it counts for nothing if it doesn’t cushion you when you need it most.

Do you have car insurance in Columbia, SC? Do you have adequate coverage? If you are not sure, read the guide below from New American Insurance.

Meet the state requirements first

Almost all states have set insurance minimums for drivers to meet when buying car insurance. For instance, South Carolina requires all drivers to have the below minimums:

  • $25,000 bodily injury liability and twice the amount for multiple persons
  • A minimum of $25,000 for property damage liability

Meeting the above requirements is okay, but the state minimums are far below what you need to protect yourself and your assets.

How much liability coverage do you need?

Here, we usually advise motorists to increase liability coverage as high as they can afford. If you are at fault for an accident and accused of inflicting bodily injury or property damage to others, your assets will be on the line if you have insufficient liability coverage.

We usually advise our motorists to carry liability coverage of at least 100/300/100. However, if your assets exceed this amount, we advise you to consider umbrella insurance or excess liability coverage.

How much collision or comprehensive coverage is enough?

Always assume the worst-case scenario when purchasing physical damage coverage. As a rule of thumb, consider coverage that should replace your vehicle when it’s totaled or stolen.

If you are still unsure about the amount of car insurance you should carry, please get in touch with New American Insurance in Columbia, SC for customized advice.

Protect Your Belongings with Renters Insurance

As a renter in Columbia, SC, you may not think that you need insurance. After all, your landlord probably has insurance to cover the building. However, that policy only covers the structure itself—not your belongings inside. That’s where renter’s insurance comes into play.

What is Renter’s Insurance?

Renter’s insurance is a type of property insurance that helps protect your belongings in the event of a fire, theft, or another covered disaster. The policy will typically cover the cost of replacing your belongings up to a specific limit.

Why You Need Renter’s Insurance

If you live in an apartment or house you don’t own, renter’s insurance is essential. Even if you live with roommates who each have their own policies, it’s still a good idea for you to get your own policy.

Your New American Insurance agent in Columbia, SC can help you find the best policy for your needs and budget.

It Covers Your Valuables

Your landlord’s insurance policy covers the building but not your belongings inside. If there’s a fire or break-in, you could be left with nothing. Renter’s insurance can help replace your belongings if they are lost, stolen, or damaged in a covered disaster.

It Protects You From Liability

If someone is injured in your home, renter’s insurance can help protect you from liability. It can also help cover legal costs if you need to defend yourself in court. These expenses can add up, so it’s vital to have protection.

It Can Help If You’re Displaced

If your home is damaged or destroyed and you can’t live there, renter’s insurance can help pay for your temporary housing expenses. This can be a lifesaver if you’re displaced for an extended period.

Contact Us Today

To learn more about renter’s insurance and how it can protect you and your belongings, contact New American Insurance in Columbia, SC.

4 Areas Covered by Classic Car Insurance

Do you want to safeguard the actual value of your antique car in Columbia, SC? If so, it’s paramount to secure classic car insurance from New American Insurance. Classic cars demand outstanding care because they are more than an investment. Buying classic car insurance in Columbia, SC is a wise move because it protects the true value of your toy. Here are the four areas covered by classic car insurance.

Protection of your asset

One of the prime factors of purchasing classic car insurance is that it can assist in preserving the overall value of your car. Acquiring comprehensive and collision policies cushions your antique car from physical damage when unexpected calamities strike. When you purchase classic car insurance from New American Insurance, you are sure that your valuable toy is protected when damaged or stolen.

Liability protection

Irrespective of driving your collector car rarely, disasters can strike for the few days you are cruising the road. When legally responsible for the accident, you could be accused of bodily injury and property damage. Purchasing liability coverage from New American Insurance pays for third-party claims, including legal fees.

Provides roadside assistance

Have you ever imagined what can transpire when your classic car breaks down on a highway? Old or new cars can break down at any time. Luckily, classic car insurance comes to your rescue when your car breaks down while you are miles away from your residence.

Offers peace of mind

When you have a memorable investment in your antique car, you are always unsure about its safety. However, classic car insurance wipes all your worries by assuring protection against perils like fire, theft, and collisions.

Protect your heritage and memories with classic car insurance

Are you a classic car enthusiast in Columbia, SC, searching for classic car insurance that safeguards your pride and joy? Please contact our agents at New American Insurance to help you secure insurance coverage suitable for your budget, lifestyle, and other needs.

 

Protect yourself and your bike with a comprehensive bike policy

The team at New American Insurance understands the joys that come with motorcycle ownership! We are here to help bike owners in the greater Columbia, SC area protect themselves and their motorcycles.

Benefits of a comprehensive motorcycle insurance policy

Owning a bike is a great thrill, but it also comes with its challenges. If you are wondering if you have the right type and amount of bike insurance, it may be time for a policy review.

There are a lot of different motorcycle insurance policy options available in our area. If you think it may be time to upgrade, it’s worth the time to review your options. 

When you have a comprehensive policy, you have more protection from loss or damage. With a basic, bare-bones policy, you may find yourself having to come out of pocket for any expenses that exceed your policy level limits. For instance, involvement in an accident that causes injuries or property losses can quickly exceed the amount of coverage that a basic policy provides.

If you want to have more robust coverage in place, it’s time to explore your options. A comprehensive policy can help protect you from theft, vandalism, and damage. It can also keep you insulated from financial exposure when it comes to property damage and medical expenses. 

Why not enjoy your bike while knowing that you have the robust insurance protection you need? Now’s a great time to explore the possibilities. 

Learn more about your bike policy options today!

New American Insurance is here to help our neighbors in the greater Columbia, SC area protect their investments. This is true for all types of vehicles, including motorcycles. If you would like to find out more, call or stop by our office today!

The importance of liability coverage when it comes to boat insurance

If you are a boat owner in the Columbia, SC area, you can rely on the team at New American Insurance for all of your insurance needs. We can help guide you through the policy selection process and help ensure that your boat has the protection it needs. 

Liability is an important part of any boat insurance policy

Yes, boats are a lot of fun. They can provide you, your family, and your friends with many hours of enjoyment. But with this pleasure comes responsibility. There is a lot that can go wrong when you are out on the water. And, many boating mishaps have been known to cause injuries.

Because of this reality, having an adequate amount of liability coverage is a key part of any boat insurance policy. When you don’t have an appropriate amount of liability protection and are involved in an accident, the outcome can be awful. If the mishap is one that causes injuries, the outcome can be even more dire.

When your policy does not have the coverage level to cover damages, that responsibility will likely fall to you. That’s right, you may be financially responsible for any damages that are not covered by your policy. To avoid this situation, sit down with your local agent and review your current policy in detail. You may find that there are gaps in your coverage that need to be addressed.

We are here to serve our community!

New American Insurance is here to help the wider Columbia, SC community. We are dedicated to helping our clients get the insurance that’s right for their needs. If you would like to find out more about boats, or another type of insurance, call or stop by our office today!

How Umbrella Insurance Protects Your Finances

With so many insurance policy options meant to protect against different risks, New American Insurance knows that the busy people of Columbia, SC may not be familiar with all of the more advanced varieties. Umbrella insurance is a higher level of insurance that works alongside your other policies to give your finances ironclad protection.

Expanding Your Liability Limits

While the amount of money that liability limits can reach may seem immense, it can fail to meet the needs of extremely damaging incidents or highly valuable items. Once that limit is reached, umbrella insurance will pay you additional benefits according to its own limits. Because it’s designed to work for people who already have another form of coverage, the limits are usually much higher for a lower cost than a more common type of policy. 

Covering Your Uncovered Perils

For most types of insurance policies, the coverage outlines the exact perils that are a valid reason for an insurance claim. Umbrella insurance works the opposite way, so you’ll see exactly what perils the policy doesn’t cover. In most cases, the umbrella insurance pays you after your other policies are maxed out, but it will pay on its own if nothing else applies. The liability limit will typically be the same, so you might save yourself millions by having an umbrella insurance policy.

Don’t Leave Your Finances Unguarded

Umbrella insurance is not just for the ultra-wealthy. Anyone with a homeowners’, renters’, or auto policy could find themselves facing a lawsuit that exceeds their liability limits or doesn’t match any of their existing covered perils. New American Insurance would be happy to assist any resident of Columbia, SC and nearby towns with finding an umbrella insurance policy that shields their livelihood.

Is basic auto insurance ever enough?

When you are a driver, you need to think about protecting your car and that means having auto insurance. You also need to protect your assets and that is what basic auto insurance is all about. At New American Insurance in Columbia, SC, we use our expertise as independent insurance agents to make sure our clients have the right insurance to meet their needs. 

In South Carolina, basic auto insurance is 25/50/25. This is strictly liability insurance. $25,000 for one person hurt in an accident where you are the driver at fault with a total of $50,000 for all injuries in the accident. Another $25,000 is for damage done to the property. These are reasonable amounts of coverage if you don’t have a lot of assets. 

If you have a loan on your vehicle or you are leasing, you will need to have additional insurance to cover the vehicle itself. This means adding collisions and comprehensive coverage to your policy. 

Collision coverage will help to pay for damage to your vehicle in an accident you are responsible for. It will also pay for the damage as a result of a one-car accident or a hit and run. It comes with a deductible that must be met before coverage begins. 

Comprehensive covers your auto for theft and other damage not resulting from a collision. It covers things like floods, potholes, vandalism, and damage caused by the weather. It also includes glass coverage which will fix or replace your windshield for free with no deductible.  

The answer to the question is basic auto insurance ever enough is yes. If you have few assets, an older car with no loan, and can afford to repair your vehicle if it is damaged, then go for it. 

Contact New American Insurance in Columbia, SC for your auto insurance needs. 

The Ins and Outs of Classic Car Insurance

Classic car insurance helps to keep collectors safe from many problems. For example, suppose you’re investing in a new classic car in Columbia, SC, and want to keep it protected. In that case, we at New American Insurance can help you.

First, now that not every car will qualify for classic car insurance. Just because a car is old doesn’t necessarily mean it allows either. To get classic car insurance, you must make sure that your vehicle is:

  • At least 25 years of age or 20 years with collectible value 
  • Not your primary vehicle for transportation 
  • Not used for racing and has minimal on-road miles 
  • Stored in a climate-controlled or closed garage 
  • A high-end model, like some new Corvettes or Ferrari vehicles 

You must also have a clean driving record over the last 5-10 years and no more than one at-fault accident or moving violation in the previous three years. At that point, you can choose an insurance policy that works for your needs, including:

  • Agreed Value – This policy will pay out the amount that the vehicle was worth when you first took the policy. These classic cars may gain in value over time, so consider this option carefully. 
  • Tiered Mileage – When you limit the number of miles you put on your car, you give yourself the best chance of finding an excellent policy. 
  • Auto Show Medical – This policy will protect you if someone gets hurt at a car event where your vehicle is featured, minimizing your financial investment. 
  • Spare Parts – When parts of your vehicle are stolen or damaged (or the car itself is damaged), this protection will help pay for these often expensive items. 

If you are interested in any of these coverage options and want to cut back on your financial problems, please contact us at New American Insurance, serving Columbia, SC.

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