The General does not offer umbrella policies, unlike all of the top 10 car insurance companies. Umbrella policies provide supplemental liability insurance beyond the limits of the policyholder’s home or auto coverage. You can purchase umbrella insurance from companies such as State Farm, Geico or Progressive, though.
The General is cheap because the company sells directly to consumers and keeps overhead costs low. Not having agents means there are no commissions to pay, and the company lowers operating costs by offering basic coverage options and limited customer support online. The General ranked 4th overall in WalletHub’s cheap car insurance review, partly because it offers discounts for good students and military service members. Plus, The General rewards customer loyalty with discounts for insuring more than one car or bundling multiple policies, such as home and auto.… read full answer
The General is especially cheap for high-risk drivers in particular. That’s because The General has special savings opportunities for drivers in this category, such as discounts for taking a driver training course or being continuously insured. But even though The General is among the cheapest car insurance companies, the only way to confirm you’ve found the lowest price is to compare quotes from multiple companies. Your final premium is based on a variety of factors, like your driving record, insurance history, the type of car you drive, and more, and all insurance companies can’t offer the same rate.
To get a personalized quote from The General, you can speak to a representative by calling 1 (866) 519-7422.
Umbrella insurance covers home and auto liability claims that exceed the limits of the policyholder’s liability insurance or involve situations that aren’t usually addressed by a standard liability policy. These include claims for libel and slander, personal psychological harm, and malicious prosecution. Umbrella insurance does not cover claims that are excluded outright from liability insurance, such as intentional damage. … read full answer
What Umbrella Insurance Covers
Liability in excess of auto/home insurance policy limits
Libel and slander
Psychological harm and mental anguish
Legal defense costs related to liability claims
Liabilities when traveling overseas
Umbrella insurance is typically recommended for individuals who have a high net-worth that can’t be covered by a standard liability policy. To learn more, check out WalletHub’s guide to umbrella insurance.
You need enough liability insurance to cover the full value of your assets. Your bodily injury liability coverage should be as much as your net worth, while your property damage liability insurance can be slightly lower since property damage claims are usually less expensive. Purchasing enough liability insurance to cover the value of your assets protects you from financial ruin if you cause a serious car accident.… read full answer
When to Carry Only the Minimum Liability Coverage
Although almost every state requires drivers to carry liability insurance, the minimum coverage is not always enough to cover the cost of an accident. It’s always best to carry as much liability coverage as you can afford, especially if you have a high net worth.
If you don’t have many assets or think the risk is worth it, you might be comfortable with carrying only the minimum coverage. But no matter what, make sure you’re carrying enough insurance to comply with state law and avoid paying fines for driving uninsured.
Liability Limits on Auto Insurance
Liability limits on auto insurance are the maximum amount that your insurance company will pay for injuries and property damage in accidents that you cause. Liability limits are typically written as three numbers divided by slashes.
For example, Arizona’s liability coverage requirements are 50/30/10. That means drivers need to carry $50,000 in bodily injury liability coverage per person, $30,000 in bodily injury liability coverage per accident, and $10,000 in property damage liability coverage overall.
Why You Need More Liability Insurance Than the State Minimum
Your insurance company will never pay for anything beyond the limits of your policy. Using the Arizona example, if you cause an accident that leads to $70,000 in medical bills for the other driver, you will have to pay for $40,000 if you are only carrying the minimum insurance required. And if you can’t afford to pay the full amount, the other driver can sue, and you can have your assets seized or wages garnished to cover the remainder.
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