Umbrella Insurance Risk Check
Evaluate your personal liability risk in under 2 minutes. Answer the 10 questions below to see if an umbrella policy makes sense for you.
Frequently Asked Questions
What exactly is umbrella insurance?
Umbrella insurance is extra liability coverage. It kicks in when the liability limits on your auto or homeowners policy are exhausted. If you are sued for $1 million over a car accident and your auto policy maxes out at $250,000, your umbrella policy pays the remaining $750,000 to protect your house and savings from being seized.
How much does an umbrella policy cost in Michigan?
Umbrella policies are surprisingly affordable because the underlying auto and home policies bear the initial risk. A $1 Million policy often costs between $150 and $300 per year, depending on the number of homes, cars, and drivers you have.
Do I need umbrella insurance if I rent my apartment?
Yes, if you have significant savings, a high future income potential, a dog, or you drive a car. Lawsuits look at your assets and income, not just whether you own a home. An umbrella policy sits over your renters insurance and auto insurance.
Does a personal umbrella cover my business?
No. Personal umbrella policies strictly exclude business pursuits and professional liability. If you own a business, you need a Commercial Umbrella or Excess Liability policy.