The Clakrston, MI area is blessed with about 19 primary lakes, plus countless smaller or private lakes. And if you own property on one of the beautiful lakes around Clarkston, MI, you already know you’re sitting on some high-value property. Waterfront homes are valuable, and they come with more than their share of liability exposure.

Your standard homeowners policy doesn’t take special circumstances into account. That’s why the Ryan Insurance Agency recommends umbrella insurance to help you protect your lakefront wealth.

What Is Umbrella Insurance?

If a claim is large enough, your homeowners, auto, and watercraft coverage can quickly hit their liability limits. When that happens, that’s when umbrella insurance kicks in.

Umbrella insurance can also cover you when your other policies don’t. The Department of Insurance and Financial Services (DIFS) oversees how these policies are priced and structured. That means consumer protection is automatically built into the process.

Why Lakefront Property Puts You More at Risk

Lakefront living comes with people being either on your property or around it more often. You might have guests swimming off your dock. Or kids on a boat. Neighbors walking across your place to get to the shoreline. Games being played in your yard. All of these situations can create the kind of liability that quickly blows past the limits on your standard homeowners policy.

In 2020, Michigan enacted a no-fault auto reform. Meaning at-fault drivers have much greater personal liability for medical costs than they had in the past. This alone makes umbrella insurance worth it.

Who Qualifies for Umbrella Insurance?

Most Michigan carriers require that you have minimum liability limits on your current home and auto policies before they’ll write an umbrella policy for you. So you’ll need to meet specific thresholds on both of those. For your homeowner’s insurance, liability. For your auto insurance, bodily injury and property damage.

Consult with an Expert to Review Your Current Policies

Complex insurance policies can be confusing. An agent at the Ryan Insurance Agency can go over your policy with you to make sure you’re 100% ready long before you’ll need to use your insurance.

Lakefront living in Clarkston, MI, is one of the best things about living in Oakland County. You should be able to enjoy your life on the lake without worrying about what happens when things go wrong.