Wills and umbrella insurance are two legal documents people tend to consider later in life. Older people often consider umbrella insurance as they have likely accrued a significant amount of property in their lifetime, which saves a lot of time and money. Older people may also want to consider writing out a will as the end is inevitable and, as they say, you can’t take it with you. These documents can work in tandem to deliver comprehensive protection for your assets and those who will inherit them.

Understanding Your Coverage

Upon the death of the original policyholder, the coverage will remain the same until the next renewal date. At this point, the named insured should change from the deceased’s estate to the estate’s inheritor once it has been sufficiently settled. If the property is a residence, a fire policy may be necessary until the residence is permanently occupied. Because umbrella insurance covers legal and medical fees, your family will not be on the hook for paying them off after you’ve passed on. While taking stock of your assets for your will, it’s a good idea to get umbrella insurance for all these assets so that your loved ones will get what’s coming to them.

Premier Insurance Agency Serving Detroit, MI

If you live in the Detroit, MI, area and are seriously considering umbrella insurance, please get in touch with us at Premier Insurance Agency. We know getting the right insurance policy can be difficult, but our seasoned agents are dedicated to helping you navigate the system and find the policy that is just right for you and your unique needs.