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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.

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