Accidents happen and some are more severe than others. Consequently, so are the costs to repay or repair the damage that result from an unfortunate event.
Depending on the liability limits that your existing insurance policies carry, an accident in your home, on the road, or someplace else where you could be at fault for injuries or loss, can be covered by your car insurance, homeowner’s insurance, boat insurance or some other policy you carry.
But what happens if something catastrophic occurs and the payout to repair or repay these damages exceeds what your policies cover?