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Ellis Insurance Agency serves the San Antonio, TX community. For over 30 years, we have strived to help our clients protect what matters most. Every person has unique risks and potential exposures that they have to deal with. We want to simplify the process of searching for coverage.

Why Umbrella Insurance Is An Asset

Sometimes life throws an unexpected curve ball your way. While dealing with emergency situations are always uncomfortable, having protection in place can help things go a little smoother. Umbrella insurance is a safety net that you can lean on during tough times. Umbrella insurance is a supplemental policy that you can add to your home and auto liability coverage. This protects you from a potential lawsuit if you cause damages to someone’s property, or you are responsible for someone suffering a serious injury.

If you have a child who is learning how to drive, umbrella insurance is a potential safety net. Research shows that high rates of teen drivers are involved in auto accidents. If your teen driver causes substantial property damage, umbrella insurance will protect you. Perhaps you have a pool or trampoline at your San Antonio, TX home. While these are fun accessories, they are also very dangerous. One mistake could lead to someone suffering a serious injury. If you are held liable involving a pool or trampoline accident, umbrella insurance helps protect you. Maybe you enjoy hosting parties at your residence. If you are serving alcohol at the party, you may be held liable if someone damages property or gets into a fight, causing a bodily injury. If the allegations are serious, umbrella insurance can protect you.

Ellis Insurance Agency Will Help You Protect Your Assets

Visit our website to learn more information about umbrella insurance.

What is Escrow?

Escrow is money, property or a written document delivered or held by a third party pending the fulfillment of an agreement. Banks and lenders use escrow accounts to make sure borrowers have homeowners insurance and the means to pay for it.

How does it work with my insurance?

Your bank or lender creates the escrow account at the time that you sign your mortgage agreement and manages the account thereafter.

You pay a lump sum each month to the escrow account and your mortgage lender puts the money toward your mortgage payment and pays your insurance premiums directly to your insurer. The components of this payment are mortgage principal, interest, property taxes and insurance.

The data to determine your total payment usually comes from the tax authority in your state, your homeowners insurance company and the bank itself through the mortgage it provides. This way, the banks and lenders know the premium is paid and that the home is insured. Since rates change, at the end of the year, if you paid too much toward any amount owed, your bank or lender will refund your money.*