An umbrella insurance policy is an important type of coverage to have in place if you’re at risk of being sued. This type of policy protects your assets beyond the limits of your regular auto or homeowners insurance since these policies vary widely and will only pay up to a specified maximum amount.
While it’s not always necessary to have this type of protection, there are several situations where having an umbrella policy makes good sense. CG Insurance Agency, serving the greater Williamston, MI community, is here to assist.
When you should get an umbrella insurance policy
If you own substantial assets that could be damaged by a lawsuit or other claim against you.
For example, if someone falls on your property and suffers serious injuries, they may pursue legal action for damages related to their injury. An umbrella insurance policy can help protect your personal wealth from damage claims so that you don’t have to sell your home or other major assets to pay for the claims.
If you regularly drive expensive cars, own a boat, or are otherwise at risk of being sued due to owning and operating certain types of property.
For example, if you’re in an accident with another car that is driven by someone who isn’t carrying enough insurance coverage on their vehicle, your umbrella policy can help protect you from having to pay for damages out-of-pocket after your auto insurance has paid out its limits.
Contact Us Today
Umbrella insurance is important for anyone who owns significant assets and wants the peace of mind that comes with knowing those assets are protected. If you’re concerned about protecting yourself in the event of a lawsuit, it may be worth looking into purchasing an umbrella policy today. Give the CG Insurance Agency a call today. We proudly serve the Williamston, MI area.