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Insurance Blog

When is umbrella insurance a good investment?

Those who live in the Columbia, SC area will have several types of insurance protection that are needed. A form of insurance that needs to be considered is umbrella insurance coverage. This type of protection offers liability coverage, which is often acquired on top of coverage received with other policies. There are several situations when getting an umbrella policy is going to be a good investment for you.

When Looking for More Coverage

One situation when getting umbrella insurance is a good investment is when you are looking for more coverage. If you have home or auto insurance, there will be some level of coverage included in the policy. If you ever cause a serious accident, the damages could exceed your policy limit. In these cases, having an umbrella insurance policy is important as it will give you the additional protection you need.

When Wanting Coverage for More Situations

It would be best if you also got an umbrella insurance policy to get coverage for more situations. A full umbrella insurance policy can give you protection for a vast amount of risks that you likely do not even think about. This can offer you peace of mind as you will be prepared for the unexpected. 

Anyone that is shopping for an umbrella policy in the Columbia, SC area needs to make sure that they fully understand all of their options. The team at New American Insurance can provide you with the guidance needed to choose a policy. When you do call New American Insurance, we can offer you a lot of support. Our team will answer all of your questions and ensure that you are properly protected with a new policy that meets your needs. 

What auto insurance is mandatory in South Carolina

Auto insurance offers a variety of different types of coverages. Some of them are mandatory, and others are voluntary. At New American Insurance in Lexington, SC, we are independent agents and offer plenty of choices for carriers. With more choices, you can pick a policy that fits your vehicle and your budget. 

South Carolina, like most states, has mandatory auto insurance requirements. It has three-part liability requirements for injury to a person, liability for property damage, and uninsured/ underinsured motorists. If the driver or passenger/passengers in a vehicle accident where you are at fault are injured, you need to have coverage of $25,000 for each person with a total of $50,000 for the entire accident. This can be medical bills, the loss of wages, or suffering and pain. 

The property portion is $25,000 and can be for the other vehicle, but it also covers things like a parked vehicle, fence, or other property damaged as a result of the accident. 

In the case of uninsured motorists, the law in South Carolina protects you. If your vehicle is damaged by a hit and run or an uninsured driver, you must have coverage that is the same as your property damage coverage. Underinsured motorist coverage must be offered to you, but you are not required to carry that coverage. 

The state does not require collision and comprehensive coverage. However, if you lease your vehicle or have an auto loan, chances are the lender or lessor will require that you carry it.  

New American Insurance has the experience residents of Lexington, SC have come to appreciate. For top-quality service and attention to detail, we are the ones to call. Please stop by our office or give us a call to discuss how we can help you find the auto insurance you are looking for. 

Do I need commercial insurance for my home business

Starting a home business is a great way to stop working for someone else and start working for yourself. It allows a degree of flexibility that is not always possible any other way. Because you are doing business out of your home, you may think commercial insurance is not something you have to consider. That is a mistake. You need to protect your home business in many of the same ways you would protect any small business. At New American Insurance in Lexington, SC, we are independent agents who can offer our customers the most choices regarding insurance carriers. 

If you see customers in your home, you need to take a good look at business liability insurance. You may think that your home insurance liability will cover you, but it may not. You have an increased amount of risk having strangers in your home who may be injured and decide to sue you. 

If you use a vehicle for your business, commercial auto insurance is something to consider. While your business is located in your home, you want to keep your business finances and your personal finances as separate as possible. 

Business property insurance is vital to protect your business property. Your home insurance may have limited coverage, but running a home business can invalidate your home insurance. Depending on what type of business you are running, you may have inventory, business equipment, and raw materials in your home.  

When you are ready to discuss your commercial insurance needs, New American Insurance in Lexington, SC will be there to help you every step of the way. Other types of coverage may benefit your business beyond the ones discussed. Let us do the heavy work to find you a reliable policy to suit your needs. Please stop by or give us a call for a free quote. 

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