Category: Umbrella Insurance

Accidents happen, and challenges arise despite our best intentions, so we acquire insurance to protect us and our families against those unforeseen events. Among the most valuable forms of insurance are umbrella policies that supplement your primary insurance. If you want to see how you might benefit from an umbrella policy, contact the U.P. Insurance Agency Inc. team that serves Negaunee, MI.

How Umbrella Insurance Protects You When Sued

Your home, renters, auto, and similar policies cover damages to your property and the liabilities when you are found at fault for injuries suffered by others at your residence or related to your vehicle. Since each policy limits the dollar amount covered, umbrella insurance covers the amount exceeding a primary policy’s limits. Your primary policies also protect you in certain types of lawsuits, and umbrella insurance extends their coverage as well.

More broadly, umbrella insurance typically covers defense costs, judgments, and court costs if you or a household member is sued for the following:

-Personal injury and bodily injury to others

-Property damage

-Slander, defamation, and libel

-Invasion of privacy

-Wrongful eviction and entry

-Malicious prosecution and false imprisonment

Personal umbrella insurance does not extend to situations tied to business and professional activities or liabilities assumed under a contract. Neither does it cover harm caused that is criminal in nature or intentional.

As with all policies, discussing the coverage specifics with your insurance agent is best.

Working With U.P. Insurance Agency Inc

There is comfort in knowing you and your family have protection in a world where anything can happen. If you live in or near Negaunee, MI, and want to discuss umbrella or other insurance, call or stop in to see our team at U.P. Insurance Agency Inc.

When you own a business, you need to make sure that you maintain the correct types of insurance. In certain situations, liability coverage alone is simply not enough, and could eventually lead to unforeseen costs for your business. That is where commercial umbrella insurance comes in.

Commercial Umbrella Insurance: The Basics

Often referred to as excess liability, umbrella insurance coverage is an extra amount of coverage that allows you to secure your assets better than you could with regular liability insurance. In short, umbrella insurance adds an extra layer of protection for such complicated and stressful situations as expensive lawsuits.

Commercial umbrella insurance comes in handy when liability insurance coverage has been surpassed. This is a common issue with businesses, as there are things that can occur that may be out of your control.

For example, a customer could injure themselves or destroy parts of the building. Particularly if the injuries are severe or if the building is heavily damaged (i.e., if a customer accelerated into the business and obliterated walls and windows, or if someone fell and knocked down shelves in the process), this would call for an extra amount of coverage to allocate towards repairs as well as costs of bodily injury.

You may be considering this policy for your business. U.P. Insurance Agency Inc. in Negaunee, MI can provide you with the expertise needed to figure out the best commercial umbrella insurance policy.

Contact Us Today

If you are having difficulty deciding if an umbrella policy is right for you or if you have any questions, U.P. Insurance Agency Inc. will clear up any confusion you may have and guide you through the process. Call or email U.P. Insurance Agency Inc. today, or if you are in the Negaunee, MI area, stop by the office to discuss your future commercial umbrella policy.

U.P. Insurance Agency Inc. is here for the independent business owners in our Negaunee, MI community. We understand how much work and dedication it takes to run a successful business. Let us help you protect yours.

Protect your business with an umbrella policy

When it comes to starting and running a successful business, there is a lot of hard work involved. As your company grows, your insurance needs may also increase. It is important that your commercial coverage provides the protection you need. With an umbrella policy, you can increase the level of protection that your company could potentially need.

Primary commercial policies come with limits. This means that there is a hard stop when the policy maximums are reached. We can help you fill the gap after your primary policy is exhausted. When you add an umbrella policy to your insurance portfolio, you are taking a necessary step to protect your future.

Don’t get caught underinsured, especially after all of your hard work. We advise all of our business clients to do a thorough review of all of their insurance policies at least once a year. This review can help you to address any gaps or shortfalls in coverage before they become a serious problem.

We want to help you keep running a successful business for many years to come! If it’s time for you to increase your insurance coverage, give us a call today. Umbrella policies are a great solution!

Schedule your consultation today

At the U.P. Insurance Agency Inc., we are here to help the members of the greater Negaunee, MI business community. If you would like to learn more about how an umbrella insurance policy can help to protect your company, give us a call and set up a consultation today.

Umbrella insurance can be really important if you are likely to need it at some point in your life. We outline below what umbrella insurance is and what makes you more likely to need umbrella insurance. 

If you wish to discuss umbrella insurance, you can contact U.P. Insurance Agency Inc. in Negaunee, MI to go over the possible quotes available to you. We also strive for the best prices for you and the best coverage customized to your needs.

So, what is umbrella insurance?

Umbrella insurance is similar to liability insurance. Usually, if you add liability insurance to your commercial insurance, you are insured if one of your employees gets injured whilst at work. For auto insurance, liability insurance means that you are covered for the damage to other people’s vehicles or harm done to other people and drivers. In the case of liability insurance linked with home insurance, liability insurance covers visitors in your house who accidentally get harmed. 

As the above examples suggest, liability insurance is a type of insurance that helps you in case you can be held liable in a situation. There are some differences between liability insurance and umbrella insurance, and most of these differences are in how much it covers. In the case of umbrella insurance, it covers a wide range of situations you could be seen as being liable in. This can be relevant for anyone, but if you are in a job or live a lifestyle where it is more likely someone might sue you for bodily or mental harm, umbrella insurance can really help you.

If you think it might be good for you to get umbrella insurance, call U.P. Insurance Agency Inc. in Negaunee, MI or request a quote on our website. 

Umbrella insurance is an unknown policy to most people. What it does and what it is are shrouded in mystery. However, if you ever need to have it, it is the most important insurance to have in your portfolio. It protects your assets and your financial future. At U.P. Insurance Agency, Inc. in Negaunee, MI, we have been in business since 1987. 

The Right Amount of Liability Coverage

How much umbrella insurance you need is directly related to how many assets you have to protect. Excess liability is insurance that supplements the liability coverage you already have. You don’t buy an umbrella policy unless you already have a policy with liability coverage. This applies to individuals and also to businesses. In a world where everyone is at risk of being sued, it is important to know all the assets you have worked so hard to collected are protected from legal judgment. 

Policies that include liability coverage are home, auto, renters, condo, boater, motorcycle, and commercial insurance. The basic liability you receive with a typical policy may be just that, pretty basic. In the event of an automobile accident with injury or an injury at your home, you could find yourself in litigation. Think about the cost of hospitalization and lost time from work, not to mention property damage, and you start to get the picture. Add to that pain and suffering, and you could find yourself in a tough financial position. 

Umbrella insurance starts at one million dollars and goes up by millions from there. Your personal worth dictates how high you need to go. It would be best if you had enough to be able to rest assured you are safe. Leaving yourself vulnerable is not an option. 

To learn more about umbrella insurance, contact U.P. Insurance Agency, Inc. in Negaunee, MI, and talk to our expert team.