Premium: The amount you pay periodically (monthly, quarterly, or annually) for your insurance policy. Premiums are the cost of your coverage. Deductible: The amount you must pay out-of-pocket before your insurance company starts covering the costs of a claim. For example, if you have a $500 deductible, you’ll need to pay the first $500 of […]
Umbrella insurance policies provide an extra layer of liability protection beyond your standard auto, homeowners, or renters insurance. Here’s how they work: Additional Coverage:Umbrella insurance kicks in after your existing policies (like auto or homeowners) reach their coverage limits. For example, if you’re involved in a car accident and the damage exceeds your auto
