{"id":122,"date":"2022-07-30T04:00:00","date_gmt":"2022-07-30T10:00:00","guid":{"rendered":"https:\/\/www.agencyadvantageins.com\/blog\/?p=122"},"modified":"2022-08-01T20:39:47","modified_gmt":"2022-08-02T02:39:47","slug":"when-can-you-buy-an-umbrella-policy","status":"publish","type":"post","link":"https:\/\/www.agencyadvantageins.com\/blog\/when-can-you-buy-an-umbrella-policy\/","title":{"rendered":"When Can You Buy an Umbrella Policy?"},"content":{"rendered":"<p><span style=\"color:#0e101a\">Umbrella insurance is a secondary insurance type available from Agency Advantage Insurance, serving West Bloomfield, MI. You must carry a primary insurance policy before you can add umbrella to it.<\/span><\/p>\n<p><span style=\"color:#0e101a\">That means you need to own a home, auto, or business insurance to purchase an umbrella policy. You could potentially add it to a boat policy, too.<\/span><\/p>\n<p><span style=\"color:#0e101a\">The umbrella policy adds to the liability coverage of the primary policy. So, anytime you purchase a primary policy with liability coverage, you can add an umbrella policy to it.<\/span><\/p>\n<h3><strong><span style=\"color:#0e101a\">When do you use the umbrella policy?<\/span><\/strong><\/h3>\n<p><span style=\"color:#0e101a\">When an event occurs that requires the use of the liability coverage that you purchased, the insurance company uses the primary policy first to pay off the medical bills or settlement of the individuals harmed. If the settlement and medical costs exceed the amount covered in the primary policy, the insurance company moves to the secondary umbrella policy.<\/span><\/p>\n<h3><strong><span style=\"color:#0e101a\">Why would you need umbrella insurance?<\/span><\/strong><\/h3>\n<p><span style=\"color:#0e101a\">High net worth individuals should acquire umbrella insurance&nbsp;because they&rsquo;re more apt to get sued. If an accident occurs at their home, they&rsquo;re more likely to get sued because the injured person knows they have money.<\/span><\/p>\n<p><span style=\"color:#0e101a\">They also frequently host parties and fundraisers, bringing many people to their homes. This opens them to increased liability since they have more visitors on an increased frequency.<\/span><\/p>\n<h3><strong><span style=\"color:#0e101a\">How much umbrella insurance do you need?<\/span><\/strong><\/h3>\n<p><span style=\"color:#0e101a\">Because these policies cost very little in monthly premiums, most individuals purchase a $1 million policy. This also ensures that the policy can cover nearly any liability incurring situation.<\/span><\/p>\n<h3><strong><span style=\"color:#0e101a\">Contact Us<\/span><\/strong><\/h3>\n<p><span style=\"color:#0e101a\">Contact Agency Advantage Insurance serving West Bloomfield, MI for more information on umbrella insurance or to purchase a policy. We&rsquo;ll work with you to determine the amount of coverage you need.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Umbrella insurance is a secondary insurance type available from Agency Advantage Insurance, serving West Bloomfield, MI. You must carry a primary insurance policy before you can add umbrella to it. That means you need to own a home, auto, or business insurance to purchase an umbrella policy. You could potentially add it to a boat [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[6,5],"class_list":["post-122","post","type-post","status-publish","format-standard","hentry","category-insurance","tag-agency-advantage-insurance","tag-west-bloomfield-mi"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.agencyadvantageins.com\/blog\/wp-json\/wp\/v2\/posts\/122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.agencyadvantageins.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.agencyadvantageins.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.agencyadvantageins.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.agencyadvantageins.com\/blog\/wp-json\/wp\/v2\/comments?post=122"}],"version-history":[{"count":1,"href":"https:\/\/www.agencyadvantageins.com\/blog\/wp-json\/wp\/v2\/posts\/122\/revisions"}],"predecessor-version":[{"id":123,"href":"https:\/\/www.agencyadvantageins.com\/blog\/wp-json\/wp\/v2\/posts\/122\/revisions\/123"}],"wp:attachment":[{"href":"https:\/\/www.agencyadvantageins.com\/blog\/wp-json\/wp\/v2\/media?parent=122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.agencyadvantageins.com\/blog\/wp-json\/wp\/v2\/categories?post=122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.agencyadvantageins.com\/blog\/wp-json\/wp\/v2\/tags?post=122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}