umbrella insurance

Umbrella Policies Demystified: The 🔑 to Total Peace of Mind

Umbrella Policies Demystified: The 🔑 to Total Peace of Mind

Posted on by Shield Insurance Agency

Shield Insurance Agency Blog | Umbrella Policies | Umbrella Insurance | Start A Quote Today!

In today’s world, it’s important to protect yourself and your assets from unexpected events. One way to do this is by having an umbrella policy. But what exactly is an umbrella policy and why would you need one? In this blog post, we will explore the benefits of having an umbrella policy and how it can provide you with peace of mind and financial security.

Umbrella Policies also known as Liability Insurance

An umbrella policy, also known as excess liability insurance, is a type of insurance that provides additional coverage beyond the limits of your existing insurance policies. It acts as a safety net, protecting your personal assets in the event of a lawsuit or major accident where you are found liable for damages.

One of the main reasons why you would need an umbrella policy is for asset protection. If you have significant personal assets, such as a home, car, or savings, you could be at risk of losing them in a lawsuit. An umbrella policy provides an extra layer of protection, ensuring that your assets are shielded from potential legal expenses and damages.

Umbrella Policies Provide Comprehensive Protection

Another reason to consider an umbrella policy is for comprehensive protection. While your existing insurance policies, such as auto or homeowners insurance, may provide coverage for bodily injury or property damage, they often have coverage limits. If the damages exceed these limits, you could be left responsible for the remaining costs. An umbrella policy provides additional coverage, filling in the gaps and giving you peace of mind knowing that you are fully protected.

Having an umbrella policy also offers extra protection in the event of a major accident or lawsuit. It can cover legal expenses, including attorney fees and court costs, which can quickly add up. Without an umbrella policy, you may find yourself facing significant financial burdens that could impact your future financial security.

One of the key benefits of an umbrella policy is the peace of mind it provides. Knowing that you have an extra layer of liability protection can help alleviate the stress and worry that comes with potential lawsuits or accidents. It allows you to focus on enjoying life without constantly worrying about the financial consequences of unforeseen events.

Risk Management and Umbrella Policies

When it comes to risk management, an umbrella policy is an essential tool. It helps you mitigate the risks associated with personal liability and property damage. By having comprehensive coverage, you are better prepared to handle unexpected situations and protect your financial well-being.

Now that you understand the importance of an umbrella policy, it’s essential to find the right insurance coverage for your needs. Shield Insurance Agency represents over 40 insurance companies, offering a wide range of options to choose from. Their experienced agents can help you navigate the complexities of insurance policies and find the best coverage for your specific situation.

To get started, contact Shield Insurance Agency at (616) 896-4600 for a free quote today. Their knowledgeable agents will guide you through the quoting process and ensure that you have the right umbrella policy to protect your assets and provide you with the peace of mind you deserve. You can also start the quoting process by visiting this LINK, and an agent will be in touch soon.

In conclusion, an umbrella policy is a crucial component of your overall insurance coverage. It provides asset protection, comprehensive coverage, and extra protection in the event of a major accident or lawsuit. With an umbrella policy, you can enjoy peace of mind, knowing that your personal assets are safeguarded and your financial security is protected. Don’t wait until it’s too late – contact Shield Insurance Agency today and get the coverage you need.

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Personal Umbrella Policy

Personal Umbrella Policy is The Ultimate Peace of Mind

Posted on by Shield Insurance Agency

Shield Insurance Agency Blog | Personal Umbrella Policy | Home Insurance

When it comes to protecting your financial security and personal assets, comprehensive insurance coverage is essential. While most people have basic insurance policies in place, such as auto and homeowners insurance, there are additional coverage options that can provide extra liability protection and peace of mind. One such option is a personal umbrella policy.

What is a Personal Umbrella Policy?

A personal umbrella policy is a type of insurance that provides excess liability coverage beyond the limits of your primary insurance policies. It acts as an extra layer of protection, shielding your personal assets from potential lawsuits and financial loss. This blog post will explore the benefits of a personal umbrella policy and what it covers.

First and foremost, a personal umbrella policy provides additional liability protection. If you are found liable for causing injury or property damage to someone else, your primary insurance policies may have limits on the amount they will cover. This is where an umbrella policy comes in. It kicks in once your primary policies have reached their limits, providing coverage for the remaining costs.

Personal Umbrella Policy Benefits

One of the key benefits of a personal umbrella policy is that it offers coverage for a wide range of situations. Whether it’s a car accident, a slip and fall incident on your property, or a defamation lawsuit, an umbrella policy can help cover the costs of legal expenses and potential damages. This comprehensive coverage ensures you are protected in various scenarios, giving you peace of mind.

In addition to covering legal expenses and damages, a personal umbrella policy also provides personal injury coverage. This includes coverage for claims such as libel, slander, false arrest, and invasion of privacy. Personal injury claims can be costly, and having the extra coverage provided by an umbrella policy can help protect your financial security.

Property Damage Coverage

Property damage coverage is another crucial aspect of a personal umbrella policy. If you accidentally damage someone else’s property, such as their vehicle or home, your umbrella policy can help cover the costs of repairs or replacement. This coverage extends beyond the limits of your primary policies, ensuring that you are fully protected in case of a costly accident.

When it comes to insurance claims, having a personal umbrella policy can make the process smoother. In the event of a claim, your umbrella policy will work in conjunction with your primary policies to provide the necessary coverage. This means that you only need to deal with one insurance company, simplifying the claims process and saving you time and effort.

It’s important to note that a personal umbrella policy does not replace your primary insurance policies. Instead, it supplements them, providing additional coverage when needed. This means that you still need to maintain adequate coverage on your primary policies to ensure that you are fully protected.

Contact Shield Insurance Agency

Now that you understand the benefits of a personal umbrella policy and what it covers, you may be wondering how to get one. Shield Insurance Agency represents over 40 insurance companies and can help you find the right policy for your needs. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK and an agent will be in touch soon. Don’t wait until it’s too late – protect your financial security and personal assets with a personal umbrella policy.

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Umbrella Insurance Demystified: Your Ultimate Guide

Umbrella Insurance Demystified: Your Ultimate Guide

Posted on by Shield Insurance Agency

Shield Insurance Agency Blog | Umbrella Insurance | Commercial Insurance

When it comes to protecting your assets and ensuring financial security, having the right insurance coverage is crucial. While most people are familiar with auto, home, and health insurance, there is another type of policy that often goes overlooked – umbrella insurance. In this blog post, we will explore what an umbrella insurance policy is, how it works, and why it is an essential addition to your insurance portfolio.

What is umbrella insurance?

Umbrella insurance is a type of liability coverage that provides an extra layer of protection beyond the limits of your existing insurance policies. It is designed to safeguard your personal assets and provide financial security in the event of a lawsuit or significant claim. While your primary insurance policies, such as auto or homeowners insurance, have coverage limits, an umbrella policy offers additional coverage that kicks in once those limits are exhausted.

How does it work?

Let’s say you are involved in a car accident where you are at fault, and the other party suffers severe bodily injury. Your auto insurance policy has a liability coverage limit of $300,000, but the injured party’s medical expenses, legal fees, and other damages amount to $500,000. Without an umbrella policy, you would be responsible for paying the remaining $200,000 out of pocket. However, if you have an umbrella insurance policy with a coverage limit of $1 million, it would cover the remaining $200,000, saving you from a significant financial burden.

What does it cover?

Umbrella insurance provides coverage for a wide range of situations, including bodily injury, property damage, and personal liability incidents. It also offers protection against claims such as libel, slander, false arrest, and invasion of privacy. This comprehensive coverage ensures that you are protected from various risks and potential lawsuits.

Coverage limits and excess liability

Umbrella policies typically have coverage limits ranging from $1 million to $5 million or more. These limits represent the maximum amount the policy will pay out in the event of a claim. Once your primary insurance policy reaches its limit, the umbrella policy kicks in to cover the excess amount, hence the term “excess liability.” This additional coverage provides peace of mind and ensures that your personal assets are shielded from potential lawsuits.

Misconceptions about umbrella insurance

There are several misconceptions surrounding umbrella insurance that prevent people from considering it as part of their insurance portfolio. One common misconception is that umbrella insurance is only for the wealthy. In reality, anyone can benefit from an umbrella policy, regardless of their income or assets. It is an affordable way to protect yourself and your family from unforeseen circumstances.

Another misconception is that umbrella insurance is only necessary for those with high-risk lifestyles. While it is true that individuals with certain professions or hobbies may face higher risks, accidents can happen to anyone. It only takes one incident to result in a devastating lawsuit that could wipe out your savings and put your assets at risk. Umbrella insurance provides an extra layer of protection for everyone, regardless of their lifestyle.

Why do you need an umbrella policy?

Having an umbrella insurance policy offers numerous benefits, including:

1. Asset protection: Your personal assets, such as your home, savings, and investments, are shielded from potential lawsuits.

2. Peace of mind: Knowing that you have an extra layer of protection provides peace of mind and allows you to focus on enjoying life without worrying about financial risks.

3. Comprehensive coverage: Umbrella insurance covers a wide range of situations, ensuring that you are protected from various risks and potential lawsuits.

4. Risk management: By having an umbrella policy, you are effectively managing your risks and protecting yourself from unforeseen circumstances.

5. Legal protection: In the event of a lawsuit, an umbrella policy covers legal expenses, including attorney fees, court costs, and settlements.

How to get an umbrella insurance policy?

If you are interested in obtaining an umbrella insurance policy, it is essential to work with a reputable insurance agency that understands your needs and can provide you with the best coverage options. Shield Insurance Agency represents over 40 insurance companies and can help you find the right policy that fits your requirements and budget. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK, and an agent will be in touch soon.

In conclusion, an umbrella insurance policy is a valuable addition to your insurance portfolio. It provides an extra layer of protection, safeguards your personal assets, and ensures financial security in the event of a lawsuit or significant claim. Don’t wait until it’s too late – consider getting an umbrella policy today and enjoy the peace of mind that comes with knowing you are well protected.

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Umbrella Insurance

Three things to do when you’re interested in buying umbrella insurance

Posted on by admin

Umbrella Insurance | Shield Quoting Portal | Business Insurance

Umbrella insurance is great to have if you want total financial protection. Consumers on the market for umbrella insurance in Michigan can purchase the coverage they’re looking for from Shield Insurance Agency. 

It’s essential that you go through a few steps before you purchase an umbrella insurance policy.

The following are three things to do when you’re interested in buying umbrella insurance:

Research umbrella insurance so that you know what you’re getting

Misconceptions about umbrella insurance are common, so it’s important to do your research and make sure you completely understand umbrella insurance before purchasing a policy.

Remember that umbrella insurance protects you against liability expenses. This is not a type of insurance that insures your personal belongings like your vehicle. 

Determine what the total value of all your assets is

You’ll need to choose how much coverage to carry when you purchase umbrella insurance. It’s best if you have enough coverage to equal your net worth.

As part of preparing to buy umbrella insurance, it’s good to evaluate your assets and find out what your total net worth is. This will help you to choose the right amount of coverage. 

Shop around with different umbrella insurance providers

You’ll have options to pick from when you buy an umbrella insurance policy. You should explore your options so that you can get a policy that meets your specific needs. 

Research different umbrella insurance providers in your area and get quotes on policies from numerous companies so that you can compare. 

Give Us A Call

Once you’ve done all the things mentioned above, you can choose an umbrella insurance policy that’s right for you. Shield Insurance Agency can come to your assistance to get a quote on an umbrella insurance policy in Michigan. 

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Umbrella Protection

Posted on by Shield Insurance Agency

Shield Insurance Blog | Umbrella Protection

Why an umbrella protection policy? Higher limits, broader coverages.

You want to keep your hard-earned assets and lifestyle. We want to help. Monetary damage awards from lawsuits are a reality in today’s litigious society.

While all your primary Fremont Insurance policies contain liability protection, if a judgment is levied against you for serious damages to someone else’s property or reputation, personal injuries, or even death, your liability limits can be exhausted quickly, leaving you to make up the difference. Your investments, your home, and even your personal property could be seized to satisfy a judgment. Umbrella insurance is the answer.

Not just for the wealthy anymore

  • Do you have high-profile or vital professional, community, or corporate responsibilities?
  • Do you conduct business activities in your home or take your business to people?
  • Do you have a trampoline or swimming pool or live on the water where someone could be injured?
  • Do you have pets/animals that might injure someone?
  • Do you engage in high-risk recreational activities such as ATVing, snowmobiling, flying, or hunting?
  • Do you have a teenage driver, who is statistically more likely to cause an accident?
  • Do you entertain a lot?

For as little as $90 for $1 million protection, Fremont Insurance Umbrella Policies are low-cost peace of mind, picking up where your primary policies leave off. If you think you might need one, contact a Shield Insurance Agent today.

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Umbrella Insurance Policies

Posted on by Shield Insurance Agency

Shield Insurance Agency Blog | Umbrella Insurance | Start A Quote Today!

Hello everyone, this is Tj Simmons from Shield Insurance, and today I wanted to write a blog about an Umbrella Policy, and what it actually means, and how to actually use it, and then I am going to show some examples of Claim situations that the Umbrella Policy actually came into play. 

The first thing that I would like to mention when explaining an umbrella policy to someone – especially if they own a business, is there are two different types of Umbrella policy, Personal, and Commercial, Personal umbrella is for PERSONAL use (go Figure) and Commercial is for Commercial. 

The purpose of an Umbrella policy in Insurance is to cover the unforeseen tragic accidents that could leave you responsible for paying out of pocket if an umbrella policy was not in force. A lot of times when we ask people what an umbrella policy is for – they tell us “it is to cover the things that my regular policy does not cover” that is false. Your Umbrella policy is there for when your regular policy limits are exhausted, and there is more money to be paid out, that your regular policy has already maxed out its coverage. That is where an umbrella comes in (You can think of it like an umbrella opens up HIGHER than you, and WIDER than you, to protect you from rain.)

Umbrella Insurance

So the Umbrella is for a payout that is higher than what your current policy is written for. The Umbrella policy covers each policy that you have, as long as the carrier that is writing all of the policies, has the right guidelines. What that means is whether it’s a Liability Claim, an Auto Claim, a Workers Comp Claim, a Home Claim, RV Claim, no matter the policy, your Umbrella policy is ready to cover any payout that has exceeded the written policy limits. The easiest example that Tammy my business partner likes to use when we are discussing with people, is a car accident.

Let us say that you ran a red light and you T-Boned a car that had a high-paying Surgeon Driving. You just broke both of his hands! (yikes) this Surgeon makes $1000/Hr, and now he cannot work because his hands are shaky from getting T-Boned by you. This surgeon’s entire life now is changed because of you. After the claim situation is handled, it is stated that you must pay the Surgeon $2 Million Dollars, for hurting his hands and preventing him from working.

Your Auto Liability limit is only $1 Million per Claim, so now without an umbrella policy in force, you as the insured are on the hook to pay $1 Million dollars out of your pocket…Get ready to go Bankrupt! So – that is why you have an Umbrella policy in play. In this scenario, your umbrella policy would cover the last $1 Million, and you would just pay your deductible out of pocket. This is what the Umbrella policy is for. Here are a few more Examples – 

  • A Baby Sitter left a 5 month old infant unattended in a walker. The Infant toppled the walker, struck her head on the floor, and suffered Brain Damage. The parents of the Infant sued the teenage babysitter and her parents. The court awarded the infant’s parents $11,000,000.
  • The Insured’s Tenant Claims she became ill from Carbon Monoxide Poisoning resulting from a Faulty furnace. the Tenant Claimed Permanent brain Damage and Demanded $750,000.
  • A Teenager, who was destined for greatness as a softball player, Filed a $700,000. lawsuit against her Former Coach, Alleging his “incorrect” teaching style ruined her chances for an Athletic Scholarship. 

All of these claims were paid out, and if there was an Umbrella Policy in place, they came into play in these scenarios. Now – think about the $11 Million – do you think their Umbrella policy covered all of that? Or do you think that Babysitter is still paying for her mistake to this day? 

Thanks for reading everyone! Have a wonderful day, please feel free to reach out to me at Tjsimmons@Shieldagency.com or 616-377-4398 to Chat. Or connect on LinkedIn.

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