Having enough liability coverage is an important way to protect yourself and your finances. To get more coverage, you may need an umbrella insurance policy. If you live in Alabama, contact us at Southern Risk Associates in Foley, AL to talk about your liability coverage needs.
When you have a home insurance policy, it provides you with a number of types of coverage. One of these is liability coverage in case a third party was to get sick or have an accident in your home or yard. Though the policy has this coverage, it is often a very small amount. With the high cost of medical bills today, it's smart to get more coverage. However, adding more liability coverage to your home insurance policy can be extremely costly. That's where umbrella insurance comes in. It adds to the liability coverage that you have with your home policy so that high medical bills can be paid.
An umbrella policy works the same way with your auto insurance. It provides extra liability coverage without you having to add expensive liability coverage to your auto policy. Getting an umbrella insurance policy is much less expensive, and it protects you against high medical bills that you are liable to pay.
When an accident happens, your home or auto policy will assess the situation and pay for the accident up to its maximum. After this, your umbrella policy will kick in to pay more on top of your home or auto policy to get more of those bills paid. The maximum payout of an umbrella policy is very high and will pay more than typical home and auto policies.
If you're in Alabama and you have auto and home insurance policies, you may need an umbrella policy to give yourself better protection. Call us at Southern Risk Associates in Foley, AL to find out more about these policies.