Personal Umbrella Insurance Policy

An important part of your personal insurance program should protect you from unforeseen catastrophic events.  Accidents involving common, everyday activities may result in a worst-case scenario. Being held legally liable for injury to another person or damage to their property could exhaust your home or personal auto policy liability limits, and cause financial ruin to your family. A personal umbrella policy works hand in hand with your existing Michigan home insurance and Michigan auto insurance policies, adding an additional layer of liability to help protect you in today’s litigious society.

A personal umbrella liability policy offers vital coverage benefits, and for a relatively inexpensive premium compared to the amount of coverage purchased. Premiums for a $1,000,0000 umbrella policy range from $175 – 275 annually.  You can talk to our friendly personal lines agents today to find out how a personal umbrella allows you to obtain:

• protection for claims for losses not covered by an underlying policy
• worldwide coverage
• coverage for libel, slander, defamation or invasion of privacy
• coverage for loss of earnings while settling a claim
• rental car, special events and liquor liability coverage

We highly recommend that you review your insurance plan regularly and to contact your insurance agent at minimum annually about coverage recommendations.

An umbrella liability policy is especially appropriate when you have certain exposures:

• Is there a potential hazard in your backyard? Swimming pools, trampolines and other meant-to-be-fun gear can cause serious injuries.
• Do you own a pet? When left unattended or without adequate safety controls, some pets become scared and aggressive. You could be held liable if your pet bites a neighbor or passer-by.
• Are there any young drivers in the family? Inexperienced drivers are at higher risk of being involved in auto accidents.
• Do you own a boat? Lawsuits can result from all sorts of water-related accidents, such as skiers being towed from your boat or from another boat. Improper and unsafe personal watercraft use accounts for most watercraft liability accidents.
• Do you have adequate auto insurance liability limits? Most standard auto policies insure you, your resident family members and those who use your car with permission. The possibility of a serious loss – and the need for umbrella coverage – is there.

These are just a few situations where you could be held responsible for claims for loss that exceed the liability limits provided by your personal auto or homeowner policy. A personal umbrella liability policy protects your family and financial assets and can make the difference in your ability to meet your responsibility to reimburse others for their injury or damage.

To speak to a one of our professional insurance agents please contact us today! Allied Insurance Managers, Inc. (248) 853-0930