Do Home and Auto Insurance Need Separate Umbrella Policies in San Antonio, TX?

Most types of insurance are very specific about what they cover. You have options for health, auto, commercial, life, disability, and renters insurance just to name a few. Each one is a separate policy. Access Insurance Services offers all of these policies in San Antonio, TX, but we also offer a single policy that covers every aspect of your financial life–umbrella insurance policies. 

When It Rains It Pours–Umbrella Insurance Policies Have You Covered

Insurance policies have liability limits. For example, you may have a homeowners’ policy that covers $5,000 of electronics but after a theft or fire occurs you may have even more in damages than that. This is where your umbrella insurance policy takes care of the extra costs not covered. 

Basically, umbrella insurance functions as a liability insurance. The main job of this policy is to protect you against further lawsuits. For example, an auto insurance policy often only covers up to $500,000 at the most but an auto accident can easily add up to millions in damages. Your umbrella policy stops any major lawsuits or seizure of your assets.

Umbrella policies can also protect you from being sued for damage due to an accident while on vacation or at work. 

Quick List of Damage Covered by Umbrella Insurance

  • Legal Fees – Your policy will cover fees for a lawyer, but without an umbrella policy, you could have your assets seized and never make it to court even when you know it’s not your fault.
  • Property Damage – An umbrella policy will cover damage that occurs to other properties. This could happen in the form of a car crashing through someone’s house. Or maybe your toddler knocks over an antique Waterford vase. These are just a couple of examples of property damage that are covered by umbrella policies.
  • Bodily Injury – Several reasons exist for the need for an umbrella policy. Sometimes you may have excessive medical bills in an auto accident. You could be walking your dog and someone is bitten, which wouldn’t be covered by homeowner’s policy. Umbrella insurance covers these extra things. 
  • Other Kinds of Legal Damages – Other types of legal damages covered under umbrella insurance are slander and libel.

Umbrella Insurance Policies in San Antonio, TX

Give Access Insurance Services a call or check out our blog for further reading. We will help you with unbiased and thorough information on the right umbrella policy for you. 

Ways to Lower Your Home Insurance Costs

The price you pay for home insurance in San Antonio, TX, can vary depending on different factors.

Raise Your Deductible: A deductible is what you pay toward a loss before the insurance company pays the claim. The higher the deductible, the more money you save on your premiums.

Don’t Confuse Rebuilding Costs with What You Paid for the Home: The land under the home isn’t at risk from windstorms, theft, or fire so you don’t want to include its value when determining how much insurance to get. If you do then you will pay higher premiums.

Bundle Your Policies: You may be able to get a discount in San Antonio, TX, from your insurance company if you bundle your home and auto policies.

Make the Home More Disaster-Resistant: Find out from an agent at Access Insurance Services what you can do to make your home more resistant to natural disasters. You may be able to save money by getting stronger roofing materials or modernizing your electrical, heating, and plumbing systems.

Improve Home Security: You can typically get discounts if you install smoke detectors, deadbolt locks, or alarms. Before you buy a home security system, find out what kind of device your insurer recommends and how much it can save on your premiums.

Have Good Credit: Establishing a good credit history can help with your insurance costs. To work on your credit score you should pay bills on time, keep balances on credit cards as low as possible, and don’t get more credit than you need.

Stay with the Same Insurance Company: If you have kept coverage with the same insurer for years, you may get a discount.

Review Your Policy Yearly: You want a policy to cover additions or major purchases. However, you don’t want to have more coverage than you need. If your belongings aren’t worth what you paid anymore then you may need to reduce or cancel your rider or floater.

Contact Access Insurance Services to get a quote on home insurance.