The state sets minimum limits for car insurance and requires all drivers to have coverage in case they are involved in an accident. Car insurance in Plymouth, MI is more than just a bill you have to pay every month. Your car insurance policy can protect your income and assets if you are in an accident that results in injuries or property damage. Savvy insurance shoppers understand that, in cases of very serious injuries or death, they can be sued for any amount that the insurance company doesn’t pay. An umbrella policy can provide the extra protection you need.
Because Michigan is a no-fault state, drivers must carry coverage for their own vehicle and any other property that they may damage with their vehicle. You may also have to pay for any damage that exceeds your coverage limit. If you only have minimum coverage, you may be held personally liable for any costs above your insurance limits. An umbrella policy for car insurance will pick up when your minimum coverage automobile insurance is exhausted.
Umbrella policies start at $1 million worth of coverage and supplement auto and homeowners insurance. This additional layer of coverage can give you peace of mind. If you are in an accident or someone is injured on your property, you can be confident that your insurance will pay the necessary costs to repair or replace the property or cover the medical bills and lost wages of the person who was injured at your home. Without an umbrella policy, you may be sued for damages. If you lose the lawsuit, the court could force you to liquidate your assets and garnish your wages until the judgment is paid.
The law does not require you to carry more car insurance in Plymouth, MI than the minimum coverage limits. You may never need the additional coverage but if you do, you won’t have to worry about losing the assets you worked so hard to accumulate. A personal liability umbrella policy is the best way to protect yourself from the costs related to serious injuries or death caused by a car accident.
