Umbrella insurance, also known as catastrophic insurance, is designed to protect you from major liabilities that can significantly affect you financially. Great Michigan Insurance, located in Marshall, MI, offers umbrella insurance.
1. You Have Significant Assets
Many individuals consider umbrella insurance primarily due to their significant income or assets. If you are financially stable, an unforeseen accident could have catastrophic results. You could potentially lose the assets you’ve worked diligently to accumulate due to a judgment against you.
2. You Want to Safeguard Your Future
It can be easy to assume that umbrella insurance isn’t necessary if your assets amount to less than 1 million. However, it’s also crucial to secure your financial future. A liability judgment can encompass your future earnings and assets. You might find yourself footing the bill for a claim for many years.
3. You Are at a Higher Risk
Some situations increase the likelihood of you being sued for a liability claim. These include owning a swimming pool, having a dog, or an inexperienced driver in your household. Hosting social gatherings also comes with added risk.
4. You Want to Ensure Your Family’s Protection
Having a family means having people who depend on you for financial stability. Protecting them includes having life insurance, and you might also want to consider an umbrella policy. This gives an added layer of security to the people who rely on you.
5. You Participate in Recreational Activities
Engaging in recreational activities can also increase your risk of being sued. This includes activities like boating, golfing, and even coaching Little League. Essentially, the more active your lifestyle, the higher your liability risk.
Umbrella Insurance at Great Michigan Insurance
If you require umbrella insurance in Marshall, MI, reach out to us at Great Michigan Insurance. Our approachable agents are available to discuss your needs and assist you in choosing the best policy for your situation.
