Homeowners rely on their insurance for property damage and personal injuries. Should something unexpected occur, they can submit a claim and have their carrier pick up the rest of the tab after paying a deductible. Unfortunately, some mishaps may exceed an existing homeowner’s insurance policy. This is when umbrella insurance offers additional peace of mind. Here are several benefits of having the coverage in place.

4 Reasons Why Umbrella Insurance Is Beneficial

1. Covers High Medical Costs

If a guest at your home is injured, your homeowner’s insurance will cover their medical costs. But, if the expenses are beyond your coverage limits, umbrella insurance pays for treatment above that threshold. Instead of you having to pay out of pocket, this extended policy will kick in.

2. Tackles Lawsuit Claims

That same person injured at your house may sue you for additional damages. Between their claims for pain and suffering, wage loss, and attorney fees, the final judgment can be substantial. Because homeowner’s insurance only goes so far, umbrella insurance picks up the financial baton. Most policies cover lawsuit claims so that you don’t have to.

3. Extends Protection to Autos

Umbrella insurance is also useful for car insurance claims that go beyond what’s covered in your policy. For instance, if you get an accident that’s deemed your fault, your carrier pays for the property damage and injuries. But payouts only apply towards your policy’s coverage limit. Umbrella insurance takes it a step further if repair and replacements are higher than expected.

4. Offers Higher Coverage Limits

Most umbrella insurance policies start at $1 million in coverage and can go up to $10 million. Determining how much you need typically means looking at your home and vehicle’s value, salary, and other assets. The encouraging news is the policies can be tailored to fit your budget while offering additional protection.

BestRate Auto Insurance in Statesboro, GA, continues to help families and business owners secure extra coverage for unpredictable situations. The friendly and bilingual agents at the independent firm work with some of the nation’s leading carriers. They will shop on your behalf to help customize a policy that fits your unique lifestyle and wallet. For free, no-obligation quotes on homeowner’s insurance and other policies, call (912) 489-5942. There are also details on homeowner’s insurance and other policies on the website.