Why You Should Consider an Umbrella Insurance Policy in Myrtle Beach, SC (Hint: It’s Not Just for the Wealthy)

When you think of “umbrella insurance,” you might assume it’s only for wealthy individuals. But that’s a misconception. Whether you live in Myrtle Beach or anywhere along the Grand Strand, umbrella insurance can be a smart financial safeguard for anyone, regardless of income.

Living in a coastal community like Myrtle Beach means enjoying the beach, boating, and hosting outdoor gatherings—but these activities come with risks. Accidents can happen, and if they do, you could face serious financial consequences. That’s where having an umbrella insurance policy can make a big difference.

In this post, we’ll break down why Myrtle Beach residents should consider umbrella insurance and how it can protect you from costly liability claims—no matter what your financial situation looks like.

 

What Is Umbrella Insurance?

Umbrella insurance is extra liability coverage that kicks in when the limits of your homeowners, auto, or boat insurance are reached. It helps cover costs like legal fees, medical bills, or property damage if you’re found liable in an accident.

But umbrella insurance isn’t just for protecting your current assets in Myrtle Beach—it can also protect your future earnings. Even if you don’t have a large savings account, you could still be responsible for paying damages that could affect your future wages. That’s where umbrella insurance comes in.

*It is important to note that almost all umbrella policies require you to insure all underlying risks, with at lease a certain limit, to be eligible for an umbrella insurance policy. For example, if you own a home, autos, boat, motorcycle, golf cart (etc.), they all must have liability coverage i.e. home insurance policy, auto insurance policy, motorcycle insurance policy, etc. in place. Things can get a little tricky if you own multiple properties, autos, etc. or if you own things in a business or you are a member of a LLC. It’s best to divulge all this information to the insurance agent you are working with so they can help come up with the best options.*

Want another perspective? Here is an article from Insurance Information Institute – What is an umbrella liability policy? | III

Why Myrtle Beach Residents Don’t Have to Be Wealthy to Need Umbrella Insurance?

Many people believe that umbrella insurance is only necessary for those with significant assets, but it can be just as important for everyday residents of Myrtle Beach, SC. Here’s why:

1. Lawsuits Can Happen to Anyone

In Myrtle Beach and beyond, accidents happen. Whether it’s a car accident or someone getting injured on your property, legal action can follow—and it doesn’t matter how much money you make. Imagine you’re in a car accident in Myrtle Beach, and the damages exceed your auto insurance liability limits. If you’re sued for more than your insurance covers, umbrella insurance steps in to protect your finances.

2. Coastal Living Brings Unique Risks

Living in Myrtle Beach means you likely enjoy activities like boating or hosting gatherings. But these can come with liability risks. For example, a boating accident or a pool-related injury at your home could lead to a costly lawsuit. With umbrella insurance, you get extra coverage when your home or boat insurance reaches its limit.

3. Umbrella Insurance Is Affordable

Umbrella insurance in South Carolina is surprisingly affordable. A $1 million policy can often cost between $150 and $250 annually. For that small investment, you’re getting protection that can save you from significant financial hardship down the road.

*Limits in excess of $1 million are available as well, and it is pretty common for our office to issue limits up to $5 million or even more.*

 

 How Much Umbrella Insurance Do You Need?

In Myrtle Beach, deciding how much umbrella coverage you need depends on your assets and lifestyle. Policies typically start at $1 million in coverage, but you can increase that based on your needs.

At Davis Insurance Associates, we’ll help you evaluate your situation and determine how much umbrella coverage is right for you, whether you own a home, boat, or other valuable assets in Myrtle Beach, SC.

 

Simple Umbrella Insurance Coverage Calculator below. This is a basic tool, we really recommend speaking to a trusted insurance agent or financial advisor.

 

Why Umbrella Insurance Makes Sense for Myrtle Beach Residents?

When it comes to protecting yourself from liability, umbrella insurance is a smart choice for everyone—not just the wealthy. Here’s why Myrtle Beach homeowners and residents should consider it:

  • Affordable coverage for just a few hundred dollars a year
  • Protection against lawsuits that exceed your primary insurance limits
  • Peace of mind for those who enjoy boating, hosting, or living an active coastal lifestyle

So, whether you own a home, rent, or simply want to protect your financial future, an umbrella insurance policy could be a vital part of your insurance plan.

 

Protect Yourself in Myrtle Beach with an Umbrella Insurance Policy

If you’re a resident of Myrtle Beach, South Carolina, or anywhere along the Grand Strand, umbrella insurance can provide you with an extra layer of liability protection at an affordable price. Don’t wait until it’s too late – reach out to Davis Insurance Associates to learn more about how umbrella insurance.

 

*This blog is not meant to be coverage advice, but simply some general information about Umbrella Insurance. Some Umbrella Insurance products offer additional coverages that may be important for you. Please discuss your needs and coverages with a licensed insurance agent!

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Why Choose Davis Insurance Associates, Inc.?

We understand that every restaurant has unique risks and needs. Our team at Davis Insurance Associates takes the time to learn about your business so we can provide the best coverage options available. As an independent agency, we shop multiple carriers to find policies that offer great coverage at competitive prices.

After insuring several restaurants around Myrtle Beach and South Carolina, I thought there must be a better way. Restaurant owners are busy, and it was typical to have to speak to the owner or manager several times (about seven on average) just to get all the info needed to work up quotes. I created the form found in the below QR code to make it easier. The form takes about 10-15 minutes to complete, but that is way better than meeting and talking up to 10 times. Now don’t get me wrong. I still want to meet and even visit your restaurant, but this way is how to get it done quickly so I can respect your time and my time.

If you are reading this, I want to review your insurance and put together a proposal that I hope and think will provide better coverage (and hopefully at a lower premium). If you have 10-15 minutes to complete this form and provide me with your current insurance policies, I will work for about two full days to find you the right coverage. Included in that is speaking with the owner or manager to find out what pain points they may have revolving around insurance and what coverage is important to them. As mentioned, this should be tailored insurance for your restaurant!

The next step is easy, call us at 843-213-0000, or click below to start your insurance quote

We are your local independent insurance agency for Myrtle Beach providing you with peace of mind at a price that’s right for you. Let Davis Insurance Associates help you find affordable insurance in South Carolina and North Carolina.

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