Umbrella insurance protects you by stepping in when your liabilities exceed the limits of your underlying auto, home, or other insurance policies. They also provide coverage for some legal issues. Generally, umbrella insurance covers everyone in the policyholder’s household, but there are common exceptions, so discussing your situation with your agent is essential. If you live in or near Marshall, MI, and have questions about an umbrella or other insurance, contact the Great Michigan Insurance team.

How Umbrella Insurance Works

Umbrella insurance is designed to pay the excess amount when your liabilities exceed the policy limits of an underlying policy. While these situations are rare, they can be significant. Umbrella insurance can be invaluable when someone is found at fault for a sizable award. Like an auto policy, umbrella insurance covers every household member you identify when acquiring the policy. Your premiums are adjusted for your household members’ ages, occupations, and other characteristics, including insurance policies.

Why Household Members Are Not Always Covered

For example, your umbrella policy will cover each household member under your auto policy. However, it may exclude relatives who live with you and maintain separate auto insurance policies. Similarly, your umbrella policy may exclude certain liabilities for a child with a separate renters’ policy for a college apartment. These examples demonstrate the need to review your household members and policies with your agent. Besides cost savings, these examples show the need to bundle your policies with one agent who understands your needs and insurance package.

Working With The Great Michigan Insurance Team

The Great Michigan Insurance team knows everyone’s insurance needs differ. If you live in or near Marshall, MI, call (259) 789-0529 today or stop by the office so our team can help with your insurance needs.