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Why You Should Have An Umbrella Policy?

Lawsuits are more and more a part of our culture every day. These lawsuits can be frivolous and the result of someone wanting to get rich, or the result of something very serious. Either way, a lawsuit can result in a devastating financial loss; and an umbrella policy can offer you the extra protection you may need.

Consider these situations: You have a party at your home. Someone is enjoying themselves on your deck when they trip going down the stairs and injure themselves in the fall. They sue you for $1 million dollars, but you only carry $300,000 liability on your home.

You’re inexperienced 16 year old is navigating the icy, slushy, Michigan roads for the first time. Unaware of how soon they need to begin slowing down, they hit the brakes too late, sliding out into oncoming traffic and causing a multiple-car accident. The claimants sue you for $2 million, but the liability limit on your auto policy is only $500,000.

The possibilities where you may need an umbrella are seemingly endless. An umbrella policy can cover you for things you’d expect, like what’s listed above, but it can also cover you for libel or slander (and with all the social media at our finger tips, this is a biggie!!), invasion of privacy, false arrest, liability for property that’s rented to you, and the list goes on and on.

What you probably wouldn’t expect is umbrella policies are relatively inexpensive, as low as $12 per month! With some companies you’ll even qualify for an additional discount on your homeowners and automobile policies for having an umbrella policy!

Contact your agent today to make sure you are properly covered for all of life’s mishaps and accidents so you can live with peace of mind.   Click here for a quote.

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