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.

A basic rule of thumb is to protect all of your assets or your net worth. Net worth is simply a total of all your assets (house, savings, cars, business, collections, etc.) minus your liabilities (mortgage, loans, etc.). This can get a little tricky if you have a lot going on, such as an LLC, a partnership, or other business entity.

This (or anything in this blog) is not legal advice. We are not attorneys, you should consult a lawyer and perhaps a financial professional to better understand your liability insurance needs.

 

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!

Jewelry Insurance in PennsylvaniaHow To Protect Personal Belongings
Protect Your Roof with SageSure and LiftLock: A Preventative Measure | Davis Insurance Associates

Don’t forget to share this post

Why Choose Davis Insurance Associates, Inc.?

If you’re looking for affordable and reliable insurance in South Carolina or North Carolina, Davis Insurance Associates, Inc. is your trusted local partner for personal and business insurance solutions.

We understand that every person, family, and business has unique risks. Whether you need home insurance, auto insurance, flood insurance, condo insurance, boat insurance, or business insurance, we’re here to help you find the right coverage – without the stress.

As an independent insurance agency, we work with many top-rated insurance carriers to compare quotes and deliver options that offer great protection at competitive prices. Unlike agencies that represent just one company, we shop the market for you – so you get custom insurance solutions tailored to your needs.

Fast, Simple, and Personalized Insurance Quotes

We know your time is valuable. That’s why we created a fast and secure online form (button below) that typically takes just 5–10 minutes to complete. This efficient process allows us to gather the essential information upfront – saving you from multiple back-and-forth calls and emails.

After you submit the form and share your current insurance policy details, we spend dedicated time reviewing your situation, shopping quotes, and designing coverage that protects what matters most to you. But don’t worry, we work fast!

We still value real conversations. We’ll gladly connect to talk through your needs, listen to your concerns, and make sure the insurance you choose is exactly right for your home, vehicle, business, or lifestyle.

What Sets Davis Insurance Associates Apart?

  • Independent insurance agency serving both South Carolina and North Carolina

  • Access to multiple insurance carriers for the best mix of price and coverage

  • Local knowledge with a personal, client-first approach

  • Fast, convenient online quote process

  • Experience in both personal and commercial insurance

If you’re ready to review your current policies or start fresh with a local expert, let Davis Insurance Associates help you make a smarter insurance decision. Get in touch today, and let’s find coverage that truly fits your needs and budget.

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