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Kentwood, MI 49508

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Dalessandro Agency Inc Blog

Why Is It Called Umbrella Insurance?

Did you think it was for insuring umbrellas? While Gucci has designed an umbrella with a four-figure price tag and actor Danny DeVito still has the spiral-painted umbrella from Batman Returns in his possession, most umbrellas aren’t considered worth insuring. Umbrella insurance gets its metaphorical name because it covers your savings and personal assets, protecting them just in case your primary liability policies aren’t sufficient. 

How It Works

Umbrella insurance comes into effect in the event of a catastrophic loss exceeding primary policy coverage limits. This will prevent your assets from being seized should you be found liable for large damage. It’s just a little extra insurance that’s there just in case you need it, much like someone would take an umbrella with them just in case it rains. Umbrella insurance is a sort of backup plan, expanding your protection rates when faced with a large claim. 

What Does It Cover?

It varies from one policy to another, but typically, umbrella insurance protects you in case of liability for injury and property damage, defamation, false imprisonment, and landlord liability. Associated legal costs will also be covered. It may not cover damage to yourself or your property. If your liability is due to a breach of contract, umbrella insurance won’t cover it. And, of course, if you’ve committed a criminal offense, you’re on your own. 

Contact Dalessandro Agency Inc. in Grand Rapids, MI

Does umbrella insurance sound like something you might need? If so, and you live in the Grand Rapids, MI, area, please get in touch with Dalessandro Agency Inc. Our congenial and sagacious agents will help you find the policy best suited to you and your needs.