Using Umbrella Insurance to Protect Your Finances

When you are held liable for an accident of some kind, it often means that you will have to pay quite a bit to take care of medical bills. However, if you have enough insurance, your policies will pay for what you own. If you are interested in umbrella insurance to handle some of your liability risks, call us today at The Policy Source in Austin, TX. 

Medical Bills and Liability 

If an accident happens in your car or in your home, you may be judged to be liable for that accident. That means that you are liable for the medical bills that result from it. Coming up with those bills from your own pocket can be extremely difficult, but you likely have home insurance and auto insurance to pick up those bills. However, did you know that you often don’t get much liability protection from home and auto insurance policies? If you don’t have enough, you will have to come up with the overage. 

Umbrella Insurance Protection

If your home or auto policy doesn’t pay enough of the bills that result from the accident, you can have your umbrella insurance policy come in and pay the overage. An umbrella policy works with the home and auto policies that you already have in place. It pays once those have paid out as much as they’re going to. That way, you don’t have to go bankrupt to pay for the massive medical bills that can be caused by a serious accident. 

Protect Your Future Finances

If you were to get a higher amount of liability coverage directly from your home and auto policies, you can expect to pay quite a lot. However, umbrella insurance is an affordable way to get the extra coverage you need to protect yourself financially. To find out more, contact us at The Policy Source in Austin, TX.