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Kansas City, MO 64111

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Umbrella Insurance and Coverage Gaps

Navigating the insurance world is complex, but understanding the details and facts surrounding umbrella insurance and coverage gaps is important for protecting your assets and financial well-being. Midwest Professional Insurance is here to guide you, ensuring you have the necessary details to make informed decisions. Learn about the importance of umbrella insurance, how it can help close coverage gaps, and the key benefits of obtaining this additional layer of protection.

What Is Umbrella Insurance?

Umbrella insurance is a type of liability insurance designed to offer extra protection above and beyond the limits of your standard policies, like homeowners, auto, and boat insurance. When the limits are exhausted, umbrella insurance kicks in to provide additional coverage. As a result, umbrella insurance will protect you from a wide range of liability risks, including bodily injury, property damage, and even certain lawsuits.

Understanding Coverage Gaps

Coverage gaps occur when your primary insurance policies don’t fully cover the costs associated with a claim, leaving you responsible for the remaining amount. These gaps can result from various factors, including policy exclusions, limits, and deductibles. For instance, if your auto insurance policy has a limit of $300,000, and you are found liable for $500,000 in damages, the coverage gap would be $200,000.

Key Benefits of Umbrella Insurance

Extended Liability Protection: Umbrella insurance provides an additional layer of protection when the limits of your primary insurance policies are reached, minimizing the financial impact of a claim.

Broad Coverage: Umbrella insurance covers a wide range of liability risks, including personal injury, property damage, and legal defense costs in the event of a lawsuit.

Affordable Protection: Umbrella insurance offers a cost-effective way to enhance coverage and minimize exposure to financial loss.

The Role of Insurance in Closing Coverage Gaps

Midwest Professional Insurance understands the importance of comprehensive coverage to protect your Kansas assets and safeguard your financial well-being. By identifying potential coverage gaps and recommending suitable umbrella insurance policies, We help clients achieve peace of mind, knowing their assets are protected from unexpected liability claims.

Take Action Today by Calling Our Office

Don’t let coverage gaps leave you exposed to financial risks. Instead, contact Midwest Professional Insurance for expert guidance on securing the right umbrella insurance policy to meet your needs in Kansas. Our team will assess your current coverage, identify potential gaps, and recommend a tailored solution.

Read More

Navigating the insurance world is complex, but understanding the details and facts surrounding umbrella insurance and coverage gaps is important for protecting your assets and financial well-being. Midwest Professional Insurance is here to guide you, ensuring you have the necessary details to make informed decisions. Learn about the importance of umbrella insurance, how it can help close coverage gaps, and the key benefits of obtaining this additional layer of protection.

What Is Umbrella Insurance?

Umbrella insurance is a type of liability insurance designed to offer extra protection above and beyond the limits of your standard policies, like homeowners, auto, and boat insurance. When the limits are exhausted, umbrella insurance kicks in to provide additional coverage. As a result, umbrella insurance will protect you from a wide range of liability risks, including bodily injury, property damage, and even certain lawsuits.

Understanding Coverage Gaps

Coverage gaps occur when your primary insurance policies don’t fully cover the costs associated with a claim, leaving you responsible for the remaining amount. These gaps can result from various factors, including policy exclusions, limits, and deductibles. For instance, if your auto insurance policy has a limit of $300,000, and you are found liable for $500,000 in damages, the coverage gap would be $200,000.

Key Benefits of Umbrella Insurance

Extended Liability Protection: Umbrella insurance provides an additional layer of protection when the limits of your primary insurance policies are reached, minimizing the financial impact of a claim.

Broad Coverage: Umbrella insurance covers a wide range of liability risks, including personal injury, property damage, and legal defense costs in the event of a lawsuit.

Affordable Protection: Umbrella insurance offers a cost-effective way to enhance coverage and minimize exposure to financial loss.

The Role of Insurance in Closing Coverage Gaps

Midwest Professional Insurance understands the importance of comprehensive coverage to protect your Kansas assets and safeguard your financial well-being. By identifying potential coverage gaps and recommending suitable umbrella insurance policies, We help clients achieve peace of mind, knowing their assets are protected from unexpected liability claims.

Take Action Today by Calling Our Office

Don’t let coverage gaps leave you exposed to financial risks. Instead, contact Midwest Professional Insurance for expert guidance on securing the right umbrella insurance policy to meet your needs in Kansas. Our team will assess your current coverage, identify potential gaps, and recommend a tailored solution.

Umbrella Insurance: What You Need To Know

The term "umbrella insurance" refers to extra liability insurance that offers a variety of coverage. While standard liability insurance is naturally limited, umbrella insurance surpasses many of those limitations. In turn, this provides the insured with a policy that branches out and covers more aspects of their lives.

There are two main types of umbrella insurance: Personal and Commercial

A personal umbrella insurance policy could potentially tackle homeowner’s and automobile coverage, while a commercial umbrella insurance policy involves business coverage.

There are several aspects to consider when you are shopping around for umbrella insurance. You will need to make sure that this type of coverage is the ideal coverage for you. If you are a business owner, commercial insurance can help you cover your employees, your property, and your business assets.

However, personal umbrella insurance is perfect for an individual in need of excess coverage, particularly someone with a net worth that is on the higher end. This can encompass a variety of legal troubles that may affect wealthy individuals more than anyone. These problems could be libel, slander, arrest under false pretenses, or invasion of privacy.

Get The Right Coverage Today

Midwest Professional Insurance in Kansas City, MO has insurance professionals waiting to assist you with getting the correct umbrella insurance policy. Whether you are looking for personal or commercial umbrella insurance, Midwest Professional Insurance can walk you through the steps of obtaining the correct policy for yourself.

If you are in the Kansas City, MO area, stop by the office to discuss this matter. If your income is suitable for an umbrella policy, the experts at Midwest Professional Insurance will work with you to make sure that your assets are covered, giving you the ultimate peace of mind.

Read More

The term "umbrella insurance" refers to extra liability insurance that offers a variety of coverage. While standard liability insurance is naturally limited, umbrella insurance surpasses many of those limitations. In turn, this provides the insured with a policy that branches out and covers more aspects of their lives.

There are two main types of umbrella insurance: Personal and Commercial

A personal umbrella insurance policy could potentially tackle homeowner’s and automobile coverage, while a commercial umbrella insurance policy involves business coverage.

There are several aspects to consider when you are shopping around for umbrella insurance. You will need to make sure that this type of coverage is the ideal coverage for you. If you are a business owner, commercial insurance can help you cover your employees, your property, and your business assets.

However, personal umbrella insurance is perfect for an individual in need of excess coverage, particularly someone with a net worth that is on the higher end. This can encompass a variety of legal troubles that may affect wealthy individuals more than anyone. These problems could be libel, slander, arrest under false pretenses, or invasion of privacy.

Get The Right Coverage Today

Midwest Professional Insurance in Kansas City, MO has insurance professionals waiting to assist you with getting the correct umbrella insurance policy. Whether you are looking for personal or commercial umbrella insurance, Midwest Professional Insurance can walk you through the steps of obtaining the correct policy for yourself.

If you are in the Kansas City, MO area, stop by the office to discuss this matter. If your income is suitable for an umbrella policy, the experts at Midwest Professional Insurance will work with you to make sure that your assets are covered, giving you the ultimate peace of mind.

How Umbrella Insurance Works

Making sure that you have enough liability insurance can be tricky. How much is enough? With medical bills going up every day, it’s important to have a great deal of coverage so that you can make sure that those bills get paid after an accident. For many people, an umbrella insurance policy is a great way to make sure that they have enough protection. If you are interested in a policy, call us now at Midwest Professional Insurance.

Liability Coverage

Everyone needs to have liability coverage, which is especially true when you have an asset like a home or a car. If you have home and auto insurance policies already, you may assume that you have plenty of liability coverage. However, this may not be the case. Often, these policies come with small amounts of liability coverage in order to keep the price low. And, it can be very expensive to add liability coverage to those policies. The solution is to get an umbrella policy. These policies add more liability coverage to both of those insurance policies so that you are better covered. 

Two Insurance Steps

There are two steps involved when you use an umbrella policy to pay for an accident. The first step is for the home or auto policy to come in and pay what it can toward the medical bills that come from an accident. The second step is for the umbrella policy to pay what is left over after the first policy has paid as much as the policy allows. This ensures that there is no overage left for you to pay. And, the cost of umbrella insurance is low for the amount of coverage that you get. 

Get Your Umbrella Coverage

If you are interested in umbrella insurance, contact us at Midwest Professional Insurance.

Read More

Making sure that you have enough liability insurance can be tricky. How much is enough? With medical bills going up every day, it’s important to have a great deal of coverage so that you can make sure that those bills get paid after an accident. For many people, an umbrella insurance policy is a great way to make sure that they have enough protection. If you are interested in a policy, call us now at Midwest Professional Insurance.

Liability Coverage

Everyone needs to have liability coverage, which is especially true when you have an asset like a home or a car. If you have home and auto insurance policies already, you may assume that you have plenty of liability coverage. However, this may not be the case. Often, these policies come with small amounts of liability coverage in order to keep the price low. And, it can be very expensive to add liability coverage to those policies. The solution is to get an umbrella policy. These policies add more liability coverage to both of those insurance policies so that you are better covered. 

Two Insurance Steps

There are two steps involved when you use an umbrella policy to pay for an accident. The first step is for the home or auto policy to come in and pay what it can toward the medical bills that come from an accident. The second step is for the umbrella policy to pay what is left over after the first policy has paid as much as the policy allows. This ensures that there is no overage left for you to pay. And, the cost of umbrella insurance is low for the amount of coverage that you get. 

Get Your Umbrella Coverage

If you are interested in umbrella insurance, contact us at Midwest Professional Insurance.

What is Umbrella Insurance, And What Does It Cover?

The liability coverage in your home, boat, or auto insurance protects you up to a specific limit. However, when faced with significant claims, your current insurance plans could run out, leaving you exposed. When you find yourself in such a scenario, umbrella insurance from Midwest Professional Insurance is excellent for digging you out of this hole.

What is umbrella insurance?

Umbrella insurance is the extra liability protection that takes over when your current insurance plans’ limit runs out. Suppose you are involved in a significant auto accident, where you are at fault. Assume that your current auto liability coverage has a $30,000 limit for bodily damage. However, liabilities emanating from the accident may run to, let say, $50,000. Without umbrella insurance, you are expected to cover the difference of $20,000 from your pocket.

What does umbrella insurance cover?

Umbrella insurance safeguards against the below:

  • Bodily injury liability: Covers injuries sustained to third parties include a guest sustaining injuries on your premises or your dog biting a neighbor. 
  • Property damage liability: Pays for damages caused to other people’s properties. For instance, damage to another boat in a severe boating accident where you are at fault. 
  • Personal liability protection: The beauty of umbrella insurance is that it protects you against claims that aren’t covered by the base liability coverages. Umbrella insurance pays for the legal costs when you are sued against libel and slander. It also protects you against false arrest and malicious prosecution.

What does umbrella insurance exclude?

While umbrella insurance protects against several liabilities, it won’t protect you in the following instances:

  • Criminal or intentional acts
  • Injury to oneself
  • Damage to own property
  • Liabilities assumed under a contract

Would you want peace of mind by purchasing umbrella insurance? If yes, contact Midwest Professional Insurance today for a quote.

Read More

The liability coverage in your home, boat, or auto insurance protects you up to a specific limit. However, when faced with significant claims, your current insurance plans could run out, leaving you exposed. When you find yourself in such a scenario, umbrella insurance from Midwest Professional Insurance is excellent for digging you out of this hole.

What is umbrella insurance?

Umbrella insurance is the extra liability protection that takes over when your current insurance plans’ limit runs out. Suppose you are involved in a significant auto accident, where you are at fault. Assume that your current auto liability coverage has a $30,000 limit for bodily damage. However, liabilities emanating from the accident may run to, let say, $50,000. Without umbrella insurance, you are expected to cover the difference of $20,000 from your pocket.

What does umbrella insurance cover?

Umbrella insurance safeguards against the below:

  • Bodily injury liability: Covers injuries sustained to third parties include a guest sustaining injuries on your premises or your dog biting a neighbor. 
  • Property damage liability: Pays for damages caused to other people’s properties. For instance, damage to another boat in a severe boating accident where you are at fault. 
  • Personal liability protection: The beauty of umbrella insurance is that it protects you against claims that aren’t covered by the base liability coverages. Umbrella insurance pays for the legal costs when you are sued against libel and slander. It also protects you against false arrest and malicious prosecution.

What does umbrella insurance exclude?

While umbrella insurance protects against several liabilities, it won’t protect you in the following instances:

  • Criminal or intentional acts
  • Injury to oneself
  • Damage to own property
  • Liabilities assumed under a contract

Would you want peace of mind by purchasing umbrella insurance? If yes, contact Midwest Professional Insurance today for a quote.

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