Umbrella insurance, also known as catastrophic insurance, is designed to protect you from major liabilities that can significantly affect you financially. Great Michigan Insurance, located in Marshall, MI, offers umbrella insurance.

1. You Have Significant Assets

Many individuals consider umbrella insurance primarily due to their significant income or assets. If you are financially stable, an unforeseen accident could have catastrophic results. You could potentially lose the assets you’ve worked diligently to accumulate due to a judgment against you.

2. You Want to Safeguard Your Future

It can be easy to assume that umbrella insurance isn’t necessary if your assets amount to less than 1 million. However, it’s also crucial to secure your financial future. A liability judgment can encompass your future earnings and assets. You might find yourself footing the bill for a claim for many years.

3. You Are at a Higher Risk

Some situations increase the likelihood of you being sued for a liability claim. These include owning a swimming pool, having a dog, or an inexperienced driver in your household. Hosting social gatherings also comes with added risk.

4. You Want to Ensure Your Family’s Protection

Having a family means having people who depend on you for financial stability. Protecting them includes having life insurance, and you might also want to consider an umbrella policy. This gives an added layer of security to the people who rely on you.

5. You Participate in Recreational Activities

Engaging in recreational activities can also increase your risk of being sued. This includes activities like boating, golfing, and even coaching Little League. Essentially, the more active your lifestyle, the higher your liability risk.

Umbrella Insurance at Great Michigan Insurance

If you require umbrella insurance in Marshall, MI, reach out to us at Great Michigan Insurance. Our approachable agents are available to discuss your needs and assist you in choosing the best policy for your situation.

Your condo insurance policy is important for reducing the financial risk of condo ownership. If a covered event occurs, your policy will help repair and replace your personal belongings and repair damage inside your condo.

At Great Michigan Insurance, servicing Marshall, MI, we work with only the best carriers to ensure our customers have many choices when they get condo insurance. 

Why Review Your Condo Insurance Policy?

When your condo insurance policy was initially purchased, it should have been enough to cover your condo and belongings in the event of certain perils. However, this needs to change over time. Reviewing your condo insurance policy helps ensure that your policy continues to offer enough coverage.

The cost of materials and personal effects can change over time. Reviewing your policy keeps it up to date and helps ensure that it will be adequate in the event of a covered disaster. 

In addition, reviewing your condo insurance policy each year gives you an opportunity to shop for a better policy if necessary. 

When to Review Your Condo Insurance Policy?

Review your condo insurance annually. The time of year doesn’t matter, although many people choose to do this at the beginning of the year or around the time of their policy renewal.

To review your insurance coverage, look at the paper certificate and read it carefully. Next, talk to your insurance agent at Great Michigan Insurance Servicing in Marshall, MI. We’re skilled at reviewing insurance information with our customers to ensure they have the best coverage for their needs. 

We know what questions to ask to help you discuss and think about your policy. Call today to get started. 

Selecting the Appropriate Life Insurance Policy

Deciding on the right life insurance policy can be a critical decision. Contact us at Great Michigan Insurance in Marshall, MI, to learn about the types of life insurance and decide which policy suits your needs.

Understanding Time Periods

The key difference between term life and whole life insurance is the duration they cover. Term life insurance typically lasts for a predetermined period, after which it expires. A new policy needs to be initiated for continued coverage. On the other hand, whole life insurance, as the name suggests, covers you for your entire life, providing constant reassurance.

Weighing Costs of Policies

Term life insurance policies are generally less expensive than whole life insurance policies, making them a popular choice for many. As term life policies expire before one reaches senior years, the mortality risk is lower, contributing to their lower cost. Whole life policies have higher premiums as they cover mortality risks in the late stages of life.

Factoring in Cash Value

Whole life insurance policies accumulate a cash value over time, which can be borrowed against if needed, thus serving as an emergency financial reservoir. Term life insurance doesn’t offer this feature.

Securing Your Life Insurance

If you still haven’t purchased life insurance, now is the time. Contact Great Michigan Insurance in Marshall, MI, to explore a policy that’s right for you.

Understanding Commercial Insurance for New Business Owners

Let’s say you’ve been working with a company for an extended period. Perhaps you’re related to the owner, you’ve been taken under their wing, or they’ve seen your potential and groomed you to be their successor. Over time, you’ve grown to know the business inside out, and now you’re about to take the reins. But what about insurance?

The Pre-Existing Insurance Settings

If the former owner were diligent, they would have added your name to the policy before the business was handed over to you. If they’ve passed away, you should review the policy to ensure your name is registered. If the previous owner is still alive but has retired, they may still technically own the property while you manage the operations. It’s essential to update all the stakeholders before proceeding.

Transition of Liability

It’s important to note that now all liability falls into your hands. You could be held accountable for your employee’s negligence, and your workers’ compensation coverage might change. Be sure to stay updated about what workers’ compensation will cover for your employees, and make sure you have ample liability insurance as the ownership transitions to you.

Professional Insurance Guidance with Great Michigan Insurance

If you’re in the Marshall, MI, area and need any assistance with commercial insurance, don’t hesitate to get in touch with Great Michigan Insurance. Our helpful and knowledgeable agents will guide you, ensuring your new venture starts its journey toward success on a solid footing.

Umbrella insurance from Great Michigan Insurance offers additional protection beyond your existing home, auto, and other liability policies here in the Marshall, MI area. It provides an extra layer of financial protection against claims or lawsuits resulting from car accidents, injuries on your property, libel or slander, and more. 

Who should get umbrella insurance? 

Anyone with significant assets should consider getting umbrella insurance because it can help protect you in a catastrophic lawsuit or judgment against you. Even if you already have a substantial amount of home and auto insurance coverage, an umbrella policy will provide even greater protection for your assets if needed. 

Additionally, anyone who spends much time around water, such as boaters and people who own pools, should strongly consider an umbrella policy. Water-related activities can result in expensive lawsuits if someone gets injured, so having an additional layer of protection from an umbrella policy is essential to consider. 

Overall, anyone with significant assets to protect or those involved in water-related activities should definitely look into getting umbrella insurance. It is relatively inexpensive but provides excellent protection in the event of a serious legal issue that could cause financial ruin without it. You don’t want to get sued over your existing policies and be caught having to pay the difference. 

For more information, or if you want to explore a policy that meets your needs and your budget, call us at Great Michigan Insurance today. We are proud to serve the Marshall, MI area, and it would be our pleasure to help you find the right umbrella policy for you. So don’t wait! Call us today!

Regarding insurance from Great Michigan Insurance in the Marshall, MI area, there are two main types of policies for condo owners: a master policy and a condo unit policy. A master policy is typically purchased by the building’s association or management company and covers the common areas of a condominium complex like the lobby, elevators, hallways, stairwells, etc. It also covers any additions or improvements made to a condo complex and liability coverage in case of accidents. 

On the other hand, a condo unit policy covers individual units and their contents. This type of insurance generally covers damage caused by fires, storms, theft, and vandalism to personal property within the unit. This policy may also provide liability coverage for someone injured while inside an insured unit. 

Owners of condominiums need to understand the difference between these two policies to ensure they’re fully protected against potential damages or hazards they may face. While both types of policies are necessary for any homeowner living in a condominium complex, understanding which one provides which kind of coverage is essential to ensure your assets are safe and secure.

For more information, give us at Great Michigan Insurance a call today. We proudly serve the Marshall, MI area and would be happy to help you find a policy that meets your needs and budget. We work with both owners and associations and have precisely the policy you need to make sure you are covered in case of an accident. So don’t wait! Call today!

Insurance is vital for any business to protect owners from liability and losses. Mobile businesses of all types need commercial insurance to protect them from covered events. Anyone living in or around the Marshall, MI area can count on Great Michigan insurance to provide exceptional customer service to help them get the coverage they need.

Mobile Business Insurance 

All types of businesses, including mobile businesses, need insurance coverage. Commercial insurance is a broad term used to describe insurance for business purposes. However, specialty commercial insurance products are also designed to protect mobile businesses operating in various industries. Anyone considering opening a mobile business or looking for a new mobile business insurance policy should consult a qualified insurance agent to learn more about their options.

Individuals in the market for top-quality insurance for their business should stop in at our office and speak with one of our helpful and knowledgeable insurance agents. They can work closely with each customer to assess their current situation and offer common sense insurance solutions to cover current and future needs. We not only assist with policy selection and purchases, but we also provide support for any policy changes or claims. It’s a part of our commitment to exceptional customer service before, during, and after the policy purchase.

Reach Out Today 

Call or stop by our office today to speak to one of the insurance agents at Great Michigan Insurance. We proudly serve the Marshall, MI area and strive to provide the most compatible insurance options for our customers’ individual situations. Be sure to get the reliable coverage necessary to protect business owners from liability or losses related to unexpected events.

If you want to get liability coverage that exceeds the limits of your current insurance policy, you might need umbrella insurance. Great Michigan Insurance is dedicated to offering umbrella coverage to the residents of Marshall, MI. Please find out more about this unique coverage by contacting us today. 

Umbrella Insurance Protection 

You may need more than the liability coverage offered by your current insurance to protect you in case of a liability claim. Sometimes the liability exceeds the coverage limit, which means you’ll be liable without umbrella insurance coverage. That’s why knowing if you potentially have excessive liability is important. The extra protection can prevent losses to the client. 

If you’re ready to explore umbrella coverage options and determine if you are in need, you can count on our team at Great Michigan Insurance to guide you through the process and help you understand what level of coverage you need. We can assess your risks and compare them to your current coverage, which tells us how to proceed. We then help you secure a policy that meets your needs. 

Reach Out Today 

If you’re interested in securing top-quality umbrella insurance coverage from a leading provider in the industry, you can count on Great Michigan Insurance, proudly serving the residents of Marshall, MI. We encourage individuals interested in securing umbrella insurance or any other insurance product to stop by our offices or call to speak to one of our knowledgeable agents. Our goal is to provide unparalleled protection and security for each client that meets and exceeds their needs. Don’t rely on your homeowners or commercial insurance coverage to protect you from liability claims if you have excessive risk potential. Reach out today to see how we can help.