Franklin Insurance Agency

2345 Southern Blvd SE Ste C4,
Rio Rancho, NM 87124, United States

Mobile MapGet Directions
  • American Modern
  • BTIS
  • CNA
  • Dairyland
  • Encompass
  • Hagerty
  • Liberty Mutual
  • Metlife
  • Nationwide
  • Progressive
  • RLI
  • Safeco
  • Stillwater
  • The Hartford
  • Travelers

How Umbrella Insurance Works

Umbrella insurance is a type that works a bit differently from most other types of insurance policies. It works along with other policies to boost the amount of coverage that you have with those policies. If you already have policies for your home and vehicle, you might consider umbrella insurance to boost them. To get started with an umbrella policy, you can call us at Franklin Insurance Agency in Rio Rancho, NM. 

More Liability Coverage

Your home and auto policies each have different kinds of coverage within them. This includes liability coverage that pays for the medical bills of others after they are injured in an accident deemed to be your fault. Medical bills can be costly, so it’s a good idea to have plenty of liability coverage to pay them if needed. An umbrella policy adds coverage to your home and auto policies so that you can afford liability if an accident should happen. This protects you financially and gives you better peace of mind knowing that you are well-covered.  

Overage Payment

The first thing that happens after an accident is that the home or auto policy steps in to pay for the medical bills that are due for the other party. However, there may be an overage left over after that policy reaches its maximum. If there is, this coverage is then paid by the umbrella insurance policy. This coverage has extremely high maximums, so people will not likely owe anything after it has paid out for the medical bills. 

Get Better Coverage With Umbrella Insurance

If you want more coverage in case of accidents and already have home and auto policies, an umbrella policy can help. Call us at Franklin Insurance Agency in Rio Rancho, NM.