Once you buy home or auto insurance in Michigan, you might think you are optimally covered if something goes amiss. The truth is that your current insurance can only protect you as far as their limits stretch. When you are faced with substantial claims, your home or auto liability coverages are likely to run out, putting your assets on the line. The good news is that with umbrella insurance from the Great Lakes State Agency of Lansing, MI, you won't have to fork out money from your pocket for uncovered liability claims.
Umbrella insurance is the extra liability protection that comes to your rescue when your typical coverages run out. Umbrella insurance is akin to putting on a helmet when riding a bike. You might think you don’t need it, but you will be glad you had it when a tragic incident happens. Simply put, umbrella insurance — as the name suggests — can save you on a rainy day.
It’s worth noting that umbrella insurance covers damages to other people and not to you or your property. Additionally, umbrella insurance isn’t a stand-alone insurance policy. It rides on other insurance plans like a boat, auto, business, and home insurance coverages.
Typically, umbrella insurance covers the below:
There is a common misconception that umbrella insurance is for the rich and famous. This notion isn’t true because anyone can get sued. However, if you fall into the below situations, you need to consider umbrella insurance ASAP because the chances of being sued are high.
Consider umbrella insurance if you:
While the law doesn’t require umbrella insurance, it’s paramount to purchase one to protect yourself from expensive legal suits that can wipe out your assets.
Would you like to boost your auto or home insurance with umbrella insurance? Please contact the Great Lakes State Agency of Lansing, MI for a quote.