Personal umbrella policies are unique types of insurance. Most of the time, they are inactive and exist along with your other policies. They only go into effect when other policies have reached their maximum caps. For instance, if someone is injured at your business due to your negligence, your commercial policy will cover their medical expenses. It will also cover legal fees if they decide to sue. If your home is damaged or destroyed during a severe weather event, your policy will help with rebuilding. In both examples, though, when the policy limit is reached, the policyholder must cover additional expenses. For most people, this can be financially devastating. With an umbrella policy, these additional expenses are covered. In Michigan, our agents at Jeff Kaplan Agency can help you understand if umbrella insurance is right for you.
Umbrella insurance provides protection when you need it most. In the example of someone being injured on your property, their medical expenses could reach $400,000. If your home insurance or commercial policy only covers $300,000, you’ll have to cover the additional monies. With an umbrella insurance policy, these additional funds are covered. Also, your assets will be protected. It also provides coverage in cases of slander, libel, and invasion of privacy.
In Michigan, our agents at Jeff Kaplan Agency can help you understand if an umbrella policy is a good fit for you. They can answer your questions and explain how umbrella policies function. With the right information, you will be able to decide if an umbrella policy is right for you. Explore the information on our website to get started. When you’re ready, give us a call. Your agent will be able to provide more detailed information based on your needs. Insurance policies provide financial protection. Umbrella policies provide protection when you most need it. Get the information you need to protect yourself. Call us today!