Property owners are always finding ways of protecting their investments through insurance. Whether it’s your home, business premises, or residential properties, you are at risk of getting sued for damages or injuries sustained in your Detroit, MI property. For this reason, you may want to find a policy that extends beyond the standard policy. A great example is umbrella insurance. Here are a few ways umbrella insurance can protect property owners.
Protects you from property damage lawsuits
Property owners, particularly in the commercial sector, deal with many people, which puts them at risk of lawsuits. You could land yourself into hefty fines if your construction site workers dropped a heavy material on someone else’s compound, damaging their car or something else in the compound. You can also get sued if you allow water from your pool to enter your neighbor’s house and cause property damage. However, you are lucky to have umbrella insurance to cover the damage and pay the legal fees.
Cushions you when someone is injured on your property
If you are a property owner in Detroit, MI, the Chances are that someone in your property could get injured. It can be a slippery floor, a crack in the patio, uncovered electricity cable, fire, or any other injury. Whether it’s your fault or not, you might find yourself on the harsh side of the law, but umbrella insurance can help clean up the financial mess. At Premier insurance agency, we recommend buying enough umbrella insurance to protect your home and other properties under your name.
Protects you from the liability you may face as a landlord
Landlords have a lot in their hands. A tenant will sue you over anything that displeases them in your property. It could be a crack on the wall, a tenant’s dog biting a guest on your property, and many other accidents. While most landlords purchase insurance for their property, it is not always enough to cover all the damages and lawsuits. That’s why you need umbrella insurance to top-up.
For more information about umbrella insurance, feel free to visit or call Premier Insurance Agency today!