Umbrella Insurance in Michigan
Many Michigan residents in the Troy and Lexington, MI area have considered and taken the extra step to protect their homes, businesses, and other assets with the protection of umbrella insurance from North Coast Insurance Services. Even those with rental properties are experiencing a new level of security. Umbrella insurance is a supplemental form of insurance that gives maximized liability protection. This is important should you become liable for damages and medical bills that extend far beyond your liability coverage.
Protecting your assets
Your home, vehicles, recreational vehicles, business, and savings accounts are just some assets that can be liquidated should you owe more money in damages than you have insurance wise. With an umbrella insurance policy, it is crucial to have this policy include an amount that covers the cost of your assets. Without umbrella insurance, many of these residents turn quickly to their assets to meet the financial requirements.
Protecting your salary
When drafting your umbrella insurance policy, it is a good policy to include your potential salary over the next 20 years when determining exactly how much you should get. In some cases, those found liable have been required to make payments over the course of several years, which can jeopardize future income. Also, should the lawsuit cost you your current career, your future income will be negatively impacted. By including potential salary, you are protecting yourself from these long-term damages.
Get covered today!
If you are a resident in the Troy or Lexington, MI area, and do not currently have umbrella insurance, it is time to contact our agents at North Coast Insurance Services. Making sure that our clients have the ultimate protection is essential for us, and we know the best method for that is umbrella insurance. You can get this policy as supplemental coverage to your home, business, or rental properties that you own. For more information about this policy, give our agents a call today.