For some people, umbrella insurance is a necessity. For others, umbrella insurance is an expense that you don’t really need to worry about. Before you call Agency Advantage Insurance, it’s worth considering which camp you fall into.
Umbrella insurance provides additional coverage beyond what you have on the policy for any individual item, your home, your car, etc. With umbrella insurance, rather than buy additional coverage for your house in West Bloomfield, MI, and then also buy additional coverage for your business, and also additional coverage for your motorcycle, you simply buy one big plan, and you can dip into that should you need to make any claims that go beyond what is covered on those individual policies.
The question then is what you stand to lose without umbrella insurance, and what you need to cover. If your boat is worth close to seven figures, but your home isn’t worth anywhere near that, then you don’t really need an umbrella policy so much as you need additional boat coverage. If you know exactly where your risks lie, then you’ll want to do a little bit of number crunching and see if additional coverage or umbrella coverage would be more cost-effective.
On the other hand, if you’re juggling a lot of valuable assets, then umbrella coverage will almost always be the smart choice, offering you a safety net no matter where your risks lie. If you want to make sure that your home, your car, and everything else has a fallback plan, and you don’t want to go through the hassle of buying additional coverage for each item individually, then you should give Agency Advantage Insurance a call right away and see what they can do for you.