Umbrella Insurance

Umbrella Insurance Explained

Umbrella coverage is extra liability insurance that goes beyond the policy limits of your auto or homeowners insurance protection. If your existing liability coverage isn’t enough to fully compensate someone’s damages for which you were at fault, whether it is from a motor vehicle crash or accident in your home, this is where umbrella coverage steps in to avert potential disaster.

 

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Who Benefits?

Despite conventional wisdom, one does not have to be hugely affluent to enjoy the benefits of good umbrella insurance coverage. Just simply owning your own home and being the head of a household is enough to justify having this wonderful added protection. Whether you fall asleep at the wheel and cause a crash with a car that is driven by a noted attorney at law or if your clumsy Uncle Jim falls off the deck step and breaks a hip, without enough coverage, everything you have worked so hard for could be in jeopardy. Often, the typical auto or homeowners insurance will cover the initial $300,000. The problem is that you are personally liable for any amounts that exceed that or any other policy limit.

What Does It Do?

In addition to the above outline, good umbrella insurance will even cover certain perils not covered by one’s existing homeowners’ or auto insurance policies. Examples include:

  • Defamation or Slander
  • Malicious prosecution
  • False arrest or imprisonment
  • Infliction of mental anguish

If you are the object of a lawsuit, you will no doubt incur huge legal expenses. This is true even if you prevail in the lawsuit. Expensive and lawyers go together, like peanut butter and jelly. However, with a typical umbrella policy, the insurance provider will appoint a legal team on your behalf to fight for you, and the insurer will pay for such things as court costs and for the lawyers too. If you’re found to be guilty with a judgment against you for a substantial sum, your umbrella coverage stands ready to protect you with a payment for any level of judgment that exceeds your underlying coverage. This, of course, is limited to the maximum amount of your umbrella coverage.

How It Functions

Umbrella coverage comes in $1 million increments. Depending on your past history, the first million dollars of umbrella coverage will normally cost around just $300 per annum. Each additional $1 million of coverage will likely set you back another $100 or so.

Remember, it only takes a moment in which your eyes are off the road or in which someone slips and falls on your property to know how vital good umbrella coverage can be. Speak with an insurance pro today for more information.

i had some trouble with my health insurance to prove that i qualified under the no fault act and christina and larry helped me out and answered every question i had. they helped me through a long process and it worked great for me in the end :)
jeffrey rittenberry
jeffrey rittenberry
Mr Joe Leduc is hands down the best agent I have ever interacted with. He has gone above and beyond to get my policy discrepancies corrected with my insurance provider and i am extremely happy with the service he has provided. The customer satisfaction is excellent and i would recommend Joe to everyone.
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Nikhil Prabhu
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MrJmkelley
MrJmkelley
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Jackie
Jackie
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Lynnette Gulla
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Michelle McCall
Michelle McCall
Shannon has been my insurance agent for the last 6 years. She is always so helpful and on top of everything. Always finds me the best rates!
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Shaylynn Wood
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Kyle Tedford
Kyle Tedford
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No One
No One
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Sam Henriquez
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Darwin Yancy
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Joe Dowell
Joe Dowell
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Lacey Skinner
Lacey Skinner
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Renee Houston
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Kayla Zawol
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Sheila Handke
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Maria Randall
Maria Randall
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Babi Greene
Babi Greene
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Eric Ruhlman
Eric Ruhlman
Joe is really helpful and looks out for our best interests! I especially recommend him for Expats as he takes the time to explain the details well for people who are also not so familiar with US or Michigan insurances.
Nadine Schmidt
Nadine Schmidt
Working with A. Young Insurance was so easy and stress-free! They made the whole process simple and easy to understand!
Jessica Timberlake
Jessica Timberlake
Good across the board.
Marti Brawn
Marti Brawn
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Noel Kadri
Noel Kadri
Great rates and quick to respond to inquiries! Recommend highly!
Jenny Kemp
Jenny Kemp
Great service very polite and help in every way they can
Jacob Noskey
Jacob Noskey
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Darren Avig
Darren Avig
I get great coverage, with the amounts I set in place, at a great rate. They are very speedy with their response time. Always look to see what fits best, when asked. Have no negative experiences with them at all.
John Brunackey
John Brunackey
It was very convenient being able to get the best insurance rates for me while having a hectic work schedule. The agent I worked with was flexible and friendly
Leighann Androyna
Leighann Androyna
John has ALWAYS been transparent and honest to a fault. He never pushed me to sign up for coverage, he gave me the numbers for what I asked for and let me decide. He gave me options not problems. It is rare for me to go out of my way to do reviews as I don't have time. That is how much trust I have with A. Young Insurance! You won't be disappointed.
Aj Jensen
Aj Jensen
Things had changed and I knew I was being overcharged for car insurance. Obtained a few quotes but still wasn't happy with the results. SO glad I contacted A. Young, Joe is awesome to work with, made the switch painlessly easy and... are you sitting down? My new rate is HALF what I was paying. HALF!!! So delighted!
Diane Revord
Diane Revord
John was extremely helpful and down to earth. With me being clueless with anything to do with business insurance, he took the time to explain exactly what I needed and DIDN'T need for my business. John also made the entire process effortless and painless for me.
Christopher MARQUETTE
Christopher MARQUETTE
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wis davis
Working with Young Insurance is a pleasure.staff is friendly,knowledgeable,and will work with you to get the insurance you need at the best rates.
Kevin Cavanaugh
Kevin Cavanaugh
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Nikki Quintanilla
Nikki Quintanilla
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Teena Villa
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fawn austin
fawn austin
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chris barger
chris barger
Very helpful
Tracy Pogue
Tracy Pogue

1400 Scott Lake Road, Suite AA
Waterford, MI 48328