Why do I need an umbrella policy

Before you can decide if you need an umbrella policy or if an umbrella policy is right for you, you need to understand what an umbrella policy is and what it does for you. Like an umbrella protects you from a stormy day, umbrella insurance protects your assets above and beyond what you homeowners, auto policies cover. On average, the basic umbrella policy begins at around a million dollars. Bye Financial Group LLC in Grand Ledge, MI has the information you need to understand what is needed. 

You may be thinking, “I have a small house” or “I have an old car” why would I want to have additional coverage beyond what my regular policy covers? Those are not the things that you are covering with an umbrella, it is not about replacing your home or car, it is about protecting you and your assets from the results of an accident either with your vehicle or on your premises. If you or a member of your household are the involved in an auto accident it can lead to litigation. If someone gets injured on your property, you can end up being sued.

When it comes to legal costs, it doesn’t take long for them to mount up whether or not you are found at fault or not. Judgments against you can take not only what you have now, but what you will have in the future. Bye Financial Group LLC in Grand Ledge, MI has knowledgeable agents who can walk you through all the ins and outs of an umbrella policy and how it can be a valuable coverage for you. Why not give them a call or stop by their office, you will be glad you did. You can also reach them on their website.