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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. 

What things aren’t covered by home insurance

Buying a home is one of the most significant investments you will ever make. Having made that investment, you want to make sure that it is protected against all the hazards that can damage it. Choosing your home insurance is an important decision. You want a company you can count on, and an insurance agent that you know will be there for you if anything ever goes wrong. You can count on New American Insurance to be there through good times and bad.

Even though you might think that home insurance will cover anything that can damage your home, that isn’t the case. Home insurance policies have exclusions, which are things that are not covered. It is always a good idea to read your policy to find out precisely what is excluded to avoid getting a surprise when you try to file a claim.

Flooding

Probably the most common exclusion from home insurance policies is flooding. Floods are such a common hazard and cause so much damage every year that it’s important to look for other coverage if you live in an area prone to flooding. Sewer backups are also included in the types of flooding that are not covered.

Earth movement

Earthquakes are excluded from most home policies. Any earth movement is excluded, which includes mudslides and sinkholes.

Preventable loss

If you don’t maintain your home and it sustains damage due to that lack of maintenance, you are out of luck. Your home insurance is not going to cover it. If you end up with termite damage, it is your responsibility to fix it. If your roof leaks and damages your ceilings and furniture, and it happens because the roof is in poor repair and not damaged by a storm, your insurance will decline to pay.

It is up to you to know what is excluded from your policy or to have a trusted insurance agency like New American Insurance to keep you informed. Give us a call with any home insurance questions you may have, and protect your biggest investment!

5 Tips to Help You Plan for Home Emergencies

September is emergency preparedness month, which means that now is the best time to think about your home, your family, and your safety.

Here are 5 things you should take some time to think about during Emergency Preparedness Month this September:

  1. Smoke and Carbon Monoxide detectors: This may seem like a no-brainer to you, but it is extremely important to make sure that the smoke and Carbon Monoxide detectors in your home are functioning properly with regular test and battery changes. The National Fire Protection Association (NFPA) recommends changing the batteries in your smoke alarm every 6 months and running a test at least once a month. If you haven’t changed the batteries or run a test on the detectors in your home in quite a while, take some time this month to give them a check for your family’s protection and your peace of mind.
  2. Important documents and paperwork: Are all of your important documents accounted for and in one safe and easy to access place? We recommend investing in a fire and weather-proof safe to hold all of the documents and paperwork that would be difficult or impossible to replace in the event of an emergency.
  3. Flashlights, lanterns, and candles: Make sure your home is well-stocked with flashlights, candles, or lanterns, as well as plenty of batteries in case of an extended power outage. Especially during hurricane and storm season, it’s important to make sure you have easy access to secondary light sources in the event of a power outage in your area.
  4. Food and water: Do an inventory of your pantry items. Would your family be well stocked in the event of an emergency that required you to shelter in place? It’s always a good idea to have a two-week supply of food and water for each member of your family readily available in case of an emergency.
  5. Emergency Plan: Does your family have an emergency plan? It’s a good idea to talk together about what you will do as a family in case of an emergency. This may include going over emergency preparedness procedures like packing a bag of necessary supplies, creating a spot to meet if you are separated, what to do in case of a fire in your home, and more.

At New American Insurance, we’re here to help you prepare for emergencies and worst-case scenarios. Creating action steps now can help you and your loved ones be better prepared and stay safe in your home. Life is unpredictable, and every homeowner should make plans and think about the basics for every “worst-case scenario.”

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