We as drivers, occasionally we are going to get in a motor vehicle accident and if the accident is our fault and we injure somebody, we have to pay for their injuries through our motor vehicle insurance, but what happens if we don’t have enough insurance to cover those injuries that we caused. The legal minimums in Michigan are $20,000. So many people make the mistake of paying the 420 $20,000 worth of liability coverage because it’s cheaper, and the premiums are really low. But if you cause serious injuries to another person in a motor vehicle accident you may be responsible for paying more than the $20,000 that you have for coverage. Your home may be used to pay that person off.

Your wages, or your bank accounts, if you don’t have enough insurance. I recommend to all people to obtain at least a half a million dollars’ worth of insurance to protect yourself, to protect your personal assets, to protect your bank accounts from exposure in the event you cause an injury in a motor vehicle accident.

These standards were promulgated back in the 1970s so those aren’t even relevant to today’s standards. Another way to protect yourself is to obtain umbrella insurance coverage. Also known as excess in coverage or PLUP insurance, Personal lines Umbrella Polices. You can obtain these policies through your auto carrier if you want an excess, if you want excess coverage, or sometimes your home owners will even provide you excess coverage for an additional premium.

Not that much more I recommend you obtain those. Often times, the umbrella carriers will require you to obtain at least 250 thousand dollars coverage on your primarily auto coverage. So that would be, so that would be in effect. If you have any questions on these or any other matters, feel free to call me at 248-290-5600.