Umbrella Insurance

UMBRELLA INSURANCE IN SAGINAW, BAY CITY, MIDLAND, & NEIGHBORING AREAS

In the event of a large claim or a lawsuit, expenses can pile up quickly; thus, exceeding your current limits of coverage. As a result, these additional expenses now must be paid by you or your business out of pocket. Umbrella insurance is a form of liability insurance that provides additional coverage, on top of the current limits within your primary insurance policy; thus, alleviating you and/or your business from any additional expenses or fees that may surpass your current limits. There are two types of umbrella insurance policies: Personal Umbrella and Commercial Umbrella.

Personal Umbrella Insurance

A personal umbrella policy is designed to protect individuals and families against large claims and lawsuits that exceed their current limits of liability within their home, auto, and renters policies. Personal umbrella coverage extends to:

Bodily Injury: If you cause injury to someone in the event of an accident or a slip-and-fall incident on your property, umbrella insurance will protect you against medical costs and legal fees exceeding your current limits.

Property Damage: If you cause significant damage to someone else’s property in the event of an accident, umbrella insurance will protect you against all-related repair costs exceeding your current limits.

Legal Defenses: In the event of a lawsuit brought against you, umbrella insurance will cover all attorney fees, court costs, and settlement costs that exceed the limits within your primary policy.

Other Personal Liability Situations: Umbrella insurance will protect you against medical costs and legal fees exceeding your current limits in the event of a lawsuit brought against you due to defamation, slander, false arrest, or injuries caused by a pet.

Commercial Umbrella Insurance

A commercial umbrella policy is designed to protect small and large businesses against large claims and lawsuits that exceed their current limits of liability within their commercial insurance policy. Commercial umbrella coverage extends to:

General Liability: In the event of a lawsuit brought against your business due to bodily injury or property damage, umbrella insurance will cover attorney fees, court costs, and settlement costs that exceed the limits within your primary policy.

Employers Liability: If an employee sues your business for injuries incurred at or work or due to work-related activities, umbrella insurance will cover all costs exceeding your worker’s compensation policy

Product Liability: If a product manufactured and/or sold by your business causes injury or damages, umbrella insurance will cover all medical costs and property damage expenses that exceed the limits within your general product liability policy.

Vehicle and Commercial Auto Liability: If your business operations require the utilization of an auto vehicle, umbrella insurance will protect you in the event of an accident when medical costs and legal fees exceed the limits on your business’s primary commercial auto policy.

Other Commercial Liability Situations: Umbrella insurance will protect you against claims of libel, slander, or wrongful eviction brought against your business when related to your business’s activities.