Common Myths About Umbrella Insurance That Need to Be Debunked

Umbrella insurance is the additional type of coverage, the purpose of which is to protect already existing coverages of other standard insurance policies that you carry. Since umbrella insurance is not mandatory and not everyone carries this type of insurance, there are many myths about it that need to be debunked.

What Are The Common Myths About Umbrella Insurance That Need To Be Debunked?

Here is a list of the common misconception about this type of insurance:

  • Umbrella insurance is very expensive. The truth is that the risk determines the price of umbrella insurance and how much you will have to pay for it. Therefore, if you have valuable things to insure, your umbrella insurance is going to be more expensive. 
  • Umbrella insurance replaces auto, home, and other types of insurance. In fact, this type of coverage works as an additional type of insurance, meaning that it does not replace any other type of insurance. 
  • Umbrella insurance is very complex. It is important to understand that is supplemental coverage. It is not a stand-alone policy. It is not a complicated type of insurance policy, but if you have any questions, you can always talk to an insurance agent, who will be able to provide you with all the information you need about it. 

Jim Boyce Insurance – Trustworthy Insurance Company Serving Clients In Matthews, NC 

If you live in Matthews, NC or any other nearby town, and you are looking for umbrella insurance to add additional coverage to your existing coverages, Jim Boyce Insurance is ready to assist you. Our insurance company specializes in all types of insurance, including umbrella insurance as well. If you have any questions, or you want to know more about umbrella insurance, feel free to contact us.