Personal Umbrella Liability
Livonia, Farmington Hills, Michigan
What is Umbrella Liability insurance?
Umbrella Insurance provides exactly the type of coverage that it sounds like it would; it provides an umbrella of liability insurance protection for you to stand under. Liability issues are everywhere and you never know what could cause someone to present you with a lawsuit. Basically, Umbrella Insurance policies protect you from liability issues that go beyond the liability limits of standard insurance policies, such as your homeowner’s insurance, car insurance, etc. This policy literally puts you under its umbrella so that when you exceed the liability coverage limits on an underlying insurance line, you will still be protected.
What does Umbrella Liability insurance cover?
Most liability coverage within your standard insurance policies only covers bodily injury and property damage to others. Umbrella policies will extend those limits to not only provide additional coverage for bodily injury and property damage, but they can also cover things that are not listed under regular liability allowances. Every policy is different, so what is considered a covered liability issue under one insurance line may not be covered on another insurance line. Umbrella Insurance kicks in when these situations present themselves and/or you exceed the amount of liability coverage in your primary policies.
Why buy Umbrella Liability insurance?
You may not think you need an umbrella policy, but consider this: What happens to you and your family’s assets should you be sued for something that occurred at your home and the legal costs of the lawsuit greatly exceed the liability coverage defined by your homeowner’s policy? Who will pick up the tab if you are responsible for a multi-car accident and your liability costs exceed the limits on your car insurance by thousands of dollars? Although these kinds of things may be few and far between, you cannot be too careful. Umbrella Insurance is typically purchased at a low cost to you, but will provide enough coverage to where you shouldn’t have to worry about liability costs in the future.
Be sure to ask us about other important parts of your insurance program, including Personal Auto; Home Insurance; Umbrella Liability; Life or insurance for your Business.
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