Tag: tx

You’re required to have liability coverage for your car and home, and the legal minimums are low enough that the coverage usually doesn’t add that much to your insurance premium. However, inflation is making that coverage inadequate. As prices go up for materials, medicines, and everything else you might have to pay for if there’s a claim, you want to be sure your coverage is high enough to pay for it all. Most of the time, that means increasing the liability limits on your current insurance policy. However, depending on the policy and the company, you may be better off with umbrella insurance. The Christian Insurance Agency, serving Magnolia, TX, can help you decide.

Two for the Price of One

Increasing liability coverage does increase your premium payments, and if you increase the coverage by a lot, you may have a jump in premiums that’s really noticeable. Multiply that by two because you’ll want to increase both home/renters and car insurance liability. However, a cheaper option might be to get one umbrella policy that you can use for both home and car coverage. The umbrella policy wouldn’t replace your basic policies. It would pick up where the other policies left off in terms of coverage. Once you hit the max on your car insurance, for example, the coverage for additional costs would come from the umbrella policy. And those umbrella policies really aren’t that expensive. They might even be cheaper than increasing the liability on your other policies.

The best way to find out how much everything would cost is to call an insurance agent. Give us a call here at the Christian Insurance Agency, serving Magnolia, TX, to see how your premiums would be affected by increasing your liability coverage vs. getting umbrella insurance.

Texas may have a sizable number of drivers who are uninsured, but the state also has a lot of underinsured drivers. These are drivers who have at least the legal minimum for insurance but don’t have policies that would pay for all of the damage they could cause in an accident. You can add underinsured-motorist coverage to your existing car insurance policy, but even that coverage has a limit. The solution is to get umbrella insurance from a company like Christian Insurance Agency, serving Magnolia, TX.

Umbrella Insurance Covers Those Above-and-Beyond Costs

When an underinsured driver’s insurance doesn’t cover the entire cost of and accident they caused, then your underinsured-motorist coverage would kick in. But if the costs of repair and medical bills exceeded even that coverage, how would you pay? With repair prices and medical charges rising quickly, a straightforward accident and injury could surpass the limits of those policies faster than you realize. This is where umbrella insurance kicks in, with up to another $1 million in coverage for many policies.

Umbrella insurance acts like a catch-all for these costs that soar above the limits of your regular insurance. It gives you and your finances protection from major costs that your other insurance won’t pay for, such as medical liability. Umbrella insurance isn’t a one-size-fits-all policy, though, so you’ll want to work with a knowledgeable insurance agent to find the right coverage.

Best of all, umbrella insurance isn’t usually expensive. Many policies cost only a few hundred dollars per year, although that obviously varies depending on how much coverage you buy.

Contact Christian Insurance Agency, serving Magnolia, TX, to discuss umbrella coverage. Give yourself the gift of peace of mind.