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Insurance policies usually work alongside each other when there’s an accident. Your umbrella policy can help you if you’re in a car accident, but it’s important to learn how it works with your auto insurance.
Auto Insurance
Your auto insurance will provide a certain level of coverage depending on your policy. If you have liability, it will cover the other person’s property damage and medical bills up to a certain limit. Other levels of coverage, like collision or comprehensive, may help cover your property damage or medical bills up to a certain limit. This policy will kick in first and provide coverage up to the coverage limits. A representative at Rising Star Insurance can help you learn more about your coverage limits.
Umbrella Policies
An umbrella policy in Saint Paul, MN will kick in to provide coverage if your auto policy isn’t enough to cover the damages. For example, if there is $50,000 worth of property damage, and your auto policy only covers $25,000, your umbrella policy will kick in to help pay the remaining $25,000.
Umbrella policies only provide liability coverage, though. These policies will help cover the other person’s damages, but won’t help pay for damage to your personal property. If you have car insurance that covers your property, your umbrella policy still won’t cover your property.
Policies can also help you if you’re facing a lawsuit. They can help pay for a legal defense or if there’s a settlement against you. Every umbrella policy has a limit, just like car insurance. You will be responsible for the rest of the money owed if there is not enough coverage.
Speak with an agent here at Rising Star Insurance to learn more about your coverage options, and how they can work together. Contact us today. We’re currently serving the Saint Paul, MN area.