When it rains, the first thing you might grab is an umbrella. A good umbrella can hold off a storm or at least some rain. Similarly, the right umbrella insurance policies can hold off many threats. We’ll look closer at umbrella insurance policies and why they are becoming more popular, but if you’re considering such plans, it’s wise to work with an insurance agent. Understanding what is and is not covered could prove crucial. If you live in or near San Antonio, TX, contact Integrity Advisors Agency LLC.
What Makes Umbrella Insurance Crucial
The right insurance policy can provide a lot of protection from various things. That said, there are often gaps in what is covered. For example, a standard home insurance policy might cover damage from hail and high winds but may not cover flood damage. In this case, there is a gap in policy coverage, and property owners could be at risk. By taking out flood insurance, you may be able to close the gap.
Umbrella insurance is similar. It’s designed to close gaps. Medical bills are exceptionally expensive, and treatment for even small injuries can cost tens of thousands of dollars. An auto or home insurance policy might cover medical bills from accidents up to $50,000 or $75,000. If medical bills exceed these thresholds, the policy owner might have to pay out of pocket.
Another option is to take out an umbrella insurance plan. These plans can be used to adjust policies and close gaps. You might add an umbrella insurance policy covering medical bills from covered incidents up to $250,000. In this case, you won’t have to pay out of pocket until that threshold is reached. Keep in mind these are illustrative examples. If you need help with selecting umbrella insurance in San Antonio, TX, contact Integrity Advisors Agency LLC.
