by Luke Bouman
on Friday, February 14th, 2014 at 6:02am.
Owning waterfront property in West Michigan can bring unique liability risks that need to be addressed when purchasing a new home. Living on Lake Michigan usually means more outdoor gatherings and parties, higher use of boardwalks and decks, and friends or family using your beach and water toys. Without the proper insurance, you can be exposing yourself to a potential loss due to injury. Higher liability limits for your home and motorized boats or toys would be recommended for lakefront property owners . Another option would be to purchase an umbrella policy, which would extend your liability coverage above and beyond the limits of your individual policies. Keep in mind that a homeowners policy excludes coverage for floods as well. If you are concerned about rising water levels, you might want to consider purchasing flood insurance. When buying your waterfront home in West Michigan, be sure to speak with a trusted local agent who is familiar with the area and is able to offer a variety of solutions.