What Is an Umbrella Insurance Policy?

Having liability insurance is a must in today’s world. There are so many accidents that happen, and medical bills are so expensive, that it makes sense to have insurance policies that include liability coverage. For many, umbrella insurance policies provide that much-needed coverage. If you are interested in umbrella insurance, call us at The Insurance Shop USA in Sandpoint, ID.

Home and Liability Coverage

If you are a homeowner, you have home insurance that covers a wide range of mishaps. A small part of that coverage is for your liability for incidents that happen to third parties. However, this coverage is quite low in most cases. If a serious accident were to occur, you might not be able to pay the medical bills. That’s when people get umbrella coverage. These policies supplement your home insurance and provide you with an enormous amount of coverage, and they cost relatively little. 

Auto and Liability Coverage

Auto insurance, too, comes with a small amount for liability. A serious accident will max out that payment amount and leave you paying the rest out of pocket. But with umbrella insurance, you get far more liability coverage than your auto policy contains. Once the auto policy has paid all that it will for an accident, your umbrella insurance begins to pay that overage, and it has a much higher maximum payout. 

You Need Liability Coverage

With lawsuits so plentiful and medical bills so expensive, it’s a good idea to have a high amount of liability coverage for both your home and vehicle. If you want to add to your liability coverage with an umbrella policy, call us at The Insurance Shop USA in Sandpoint, ID. 

Coverage Options of Boat Insurance

You are excited to hit the water on your new boat but before you do, you should ensure that the investment you have made in your new purchase is protected. The best way to protect your boat is through a boat insurance policy and the agents at The Insurance Shop USA in Sandpoint, ID have the experience to assist you with your boat insurance policy.

Boat and Watercraft Requirements in Idaho

Most states do require boat owners to obtain a boat insurance policy for watercraft but the marina in which you chose to dock your boat may require a boat insurance policy to be in place. Whether you are required to have one or not, it is a great idea to have coverage to protect your investment and provide you with peace of mind so you can truly relax while enjoying time on your boat.

Types of Boat and Watercraft Insurance Coverages

There are several boat and watercraft insurance coverage options available, including liability insurance, which will protect you if someone is injured in an accident on your boat or with your boat. This type of boat insurance policy will pay the medical bills for someone that is injured in an accident that is determined to be your fault or any damage that occurs from an accident to other people’s property. This also includes passengers on your boat in the event one of them is injured while riding on your boat or other watercraft.

Comprehensive coverage is the main type of boat insurance that will protect your investment. Also, if you obtained a loan to purchase your boat, the lender you borrowed the money from may require that you have a comprehensive insurance policy in place to protect the investment they have made in your boat. This type of policy will cover your boat if it is damaged or destroyed by a fire, natural disaster, or vandalism. Also, if your boat or other watercraft is stolen, this part of your policy will help you replace it.

 Collision insurance is a type of coverage that will cover the repairs to your boat if it is damaged due to a collision with another boat or object, such as the dock.

To obtain a boat insurance policy that is best for you and your beloved boat, call upon the boat insurance agents at The Insurance Shop USA in Sandpoint, ID today to get your policy started.