Umbrella Insurance in Michigan

An umbrella insurance policy will give you extra protection when your liability exceeds your existing policy plan. This policy has some of the best values since it allows an additional liability coverage annually. This type of insurance coverage will ensure that your family’s financial security is guaranteed even after an accident or liability lawsuit. Below are the benefits of purchasing umbrella insurance from Agency Advantage Insurance in West Bloomfield, MI.

It is Affordable

An umbrella policy has a favorable correlation between coverage and price. If you decide to purchase $1 million of umbrella coverage, which is the lowest coverage available, you will be guaranteed an additional limit of coverage that extends your policy limits to protect you from high liability costs. You can decide to go above this coverage rate to accommodate your needs and provide even further coverage limits.

Lowers Liability Risk

The umbrella policy will provide an extra layer of protection on top of your Michigan homeowner or auto liability limits. In so doing, you are guaranteed that if your primary limits get exhausted, the umbrella policy will cover the remaining damages. This coverage is highly recommendable if you are consistently exposed to liability risks. Lack of an umbrella policy can lead to severe loss of assets in the unfortunate event where the liability lawsuit is serious.

Lowers your Defense Cost

In most instances, the primary insurance provider will agree to defend you to the point where your liability limit is reached. Any form of defense beyond that point will be your responsibility. The defense costs can be very high causing severe financial repercussions, this being before the cost of paying for the damages caused. With an umbrella policy, your extra defense costs and liabilities will be catered.

Evidently, umbrella coverage seals the gaps and cracks left by the primary insurance policy to protect you from liability claims exceeding the limits of your Michigan homeowners or auto policy. However, to ensure that you get maximum benefits from the umbrella policy, consider visiting Agency Advantage Insurance in West Bloomfield, MI for more insight.