Wednesday, November 20, 2013

Personal Umbrella

What does a personal umbrella policy cover?

 If you are ever faced with a lawsuit, even if groundless, false, or fraudulent, chances are you are going to wish you had an umbrella policy to foot your defence costs.  Personal umbrella policies provide excess liability coverage for bodily injury, personal injury, and property damage lawsuits beyond the limits of your individual insurance policies. 

Umbrella policies provide an emense amount of coverage, starting at $1 million of protection.  Even with this much protection umbrella policies are typically inexpensive, starting at about $130 per year depending on your underlying policies. On top of that, some carriers offer discounts on your home and auto policies to lower the cost even further.

Feel free to email us with questions or visit our website to inquire about a quote.

Thursday, November 7, 2013

MCCA - Michigan Catastrophic Claims Association

What is the Michigan Catastrophic Claims Association (MCCA)?

Have you ever looked at your auto insurance policy and notice a fee at the bottom for the MCCA? If you have, there are probably a couple of questions that popped into your head. The first question you most likely asked yourself is 'What the heck is the MCCA?' followed very quickly by '...and why is it costing me $186.00 per vehicle?'. 

The MCCA is a private non profit association created by the Michigan State Legislature that provides unlimited lifetime medical benefits for auto related accidents. Private insurance companies are reimbursed for personal injury protection (PIP) claims in excess of $530,000. Visit the MCCA's website for more information.

Currently, Michigan is the only state to offer unlimited lifetime medical benefits for PIP claims, with New York coming in second with a benefit cap of $50,000. MIC  Government officials are working hard in Lansing to reform Michigan no fault insurance. You can read more about no fault reform at the Michigan Insurance Coalition's  website.

Tuesday, November 5, 2013

Auto Collision Coverage

What is the difference between limited, standard, and broad collision?

Most people know enough about insurance to know the difference between full coverage and PLPD, but did you know there actually three different forms of collision offered? It is important consider the advantages of each type when placing coverage on a vehicle.

Limited Collision: If you purchase limited collision, your insurance will only pay for collision damages when the driver of the insured vehicle is not at fault. If the driver of the insured vehicle is more than 50% of the cause of the accident, there is no collision coverarge.

Standard/Basic Collision: If you purchase basic or standard collision, your insurance will pay for collision damages regardless of who is at fault, less your deductible.

Borad Collision: If you purchase broad form collision, your insurance wil pay for collision damages regardless of who is at fault. If the driver of the insured vehicle is found not at fault, the deductible is waived.