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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.

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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.

Should I Get Condo Insurance If I Only Live There Part-Time?

At Midwest Professional Insurance, we are happy to provide exceptional insurance policies to clients who live in the states we serve on a full-time or part-time basis. Many folks who live in Kansas, Missouri, Colorado, Illinois, Idaho, and Texas call these states home for one part of the year and spend the rest of the year in a state with the opposite climate for a change of pace.

If you own a condo in any of these states, you are probably considering buying condo insurance. For those who only live in their condo for a portion of the year, it might seem like a waste of money to get condominium insurance. As you’ll find out below, this is anything but the truth.

Should I Get Condo Insurance If I Only Live There Part-Time?

While it might seem counterintuitive, a vacant condo needs insurance even more than an occupied one. This is because empty condos and houses are prime targets for thieves and other bad actors.

When you’re away, thieves and burglars may take it as an opportunity to steal your belongings or damage your property without worrying about the consequences. Since you aren’t there, you won’t be able to protect your home or see the damage immediately. 

Without condo insurance, the results of a break-in or theft would be difficult to cover. With condo insurance, you may be able to cover the damage and replace some valuable stolen belongings. When you experience damage from qualifying incidents such as certain natural disasters or crimes, condo insurance may also help you recover.

Reach Out To Us!

If you’re wondering how our condo insurance policies can protect your home no matter how much you live there, call one of our offices at Midwest Professional Insurance today!

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At Midwest Professional Insurance, we are happy to provide exceptional insurance policies to clients who live in the states we serve on a full-time or part-time basis. Many folks who live in Kansas, Missouri, Colorado, Illinois, Idaho, and Texas call these states home for one part of the year and spend the rest of the year in a state with the opposite climate for a change of pace.

If you own a condo in any of these states, you are probably considering buying condo insurance. For those who only live in their condo for a portion of the year, it might seem like a waste of money to get condominium insurance. As you’ll find out below, this is anything but the truth.

Should I Get Condo Insurance If I Only Live There Part-Time?

While it might seem counterintuitive, a vacant condo needs insurance even more than an occupied one. This is because empty condos and houses are prime targets for thieves and other bad actors.

When you’re away, thieves and burglars may take it as an opportunity to steal your belongings or damage your property without worrying about the consequences. Since you aren’t there, you won’t be able to protect your home or see the damage immediately. 

Without condo insurance, the results of a break-in or theft would be difficult to cover. With condo insurance, you may be able to cover the damage and replace some valuable stolen belongings. When you experience damage from qualifying incidents such as certain natural disasters or crimes, condo insurance may also help you recover.

Reach Out To Us!

If you’re wondering how our condo insurance policies can protect your home no matter how much you live there, call one of our offices at Midwest Professional Insurance today!

The Importance of Health Insurance Coverage for Your Well-Being

Taking care of our health should be something that we all prioritize in our lives, and having adequate health insurance coverage can make all the difference in our physical and mental well-being. That’s why our team at Midwest Professional Insurance is dedicated to helping you find the right health insurance coverage in Kansas for your needs.

Types of Coverage (e.g., HMO, PPO, EPO)

When choosing a health insurance plan, you have several options. Different types of coverage include Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), and Exclusive Provider Organizations (EPOs). Each has its advantages, depending on your specific needs and budget.

HMOs are typically more affordable, with lower out-of-pocket costs and more restrictions on which doctors you may see.

PPOs are usually more expensive but offer more flexibility when choosing a provider.

EPOs feature a network of providers, but you cannot receive coverage if you go outside the network.

The Benefits of Having Health Insurance

Having health insurance is essential to your overall health and well-being. Not only does it provide access to preventative care, but it also protects you against high medical costs that could otherwise be financially devastating. Furthermore, health insurance can improve your mental and emotional health by providing peace of mind and reducing anxiety around potential accidents or illnesses.

The Risks of Going Without Health Insurance

Going without health insurance can also leave you open to significant financial risks. In an emergency or hospitalization, the expense of medical treatment could quickly add up to thousands of dollars. Even if you have a savings account for medical expenses, it might not be enough to cover the full cost.

At Midwest Professional Insurance in Kansas, we understand that finding the right health insurance plan can be daunting. We aim to provide comprehensive coverage that meets your needs and budget. We work with you every step of the way to ensure you get the most out of your health insurance coverage. Contact us today to learn more.

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Taking care of our health should be something that we all prioritize in our lives, and having adequate health insurance coverage can make all the difference in our physical and mental well-being. That’s why our team at Midwest Professional Insurance is dedicated to helping you find the right health insurance coverage in Kansas for your needs.

Types of Coverage (e.g., HMO, PPO, EPO)

When choosing a health insurance plan, you have several options. Different types of coverage include Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), and Exclusive Provider Organizations (EPOs). Each has its advantages, depending on your specific needs and budget.

HMOs are typically more affordable, with lower out-of-pocket costs and more restrictions on which doctors you may see.

PPOs are usually more expensive but offer more flexibility when choosing a provider.

EPOs feature a network of providers, but you cannot receive coverage if you go outside the network.

The Benefits of Having Health Insurance

Having health insurance is essential to your overall health and well-being. Not only does it provide access to preventative care, but it also protects you against high medical costs that could otherwise be financially devastating. Furthermore, health insurance can improve your mental and emotional health by providing peace of mind and reducing anxiety around potential accidents or illnesses.

The Risks of Going Without Health Insurance

Going without health insurance can also leave you open to significant financial risks. In an emergency or hospitalization, the expense of medical treatment could quickly add up to thousands of dollars. Even if you have a savings account for medical expenses, it might not be enough to cover the full cost.

At Midwest Professional Insurance in Kansas, we understand that finding the right health insurance plan can be daunting. We aim to provide comprehensive coverage that meets your needs and budget. We work with you every step of the way to ensure you get the most out of your health insurance coverage. Contact us today to learn more.

Boat Damaged by Natural Causes? What You Need to Know About Making a Claim

Hurricanes and other storms can be a boat owner’s worst nightmare. At Midwest Professional Insurance, we assist Kansas boat owners with their insurance coverage and offer related guidance.

Here, we’ll take a look at what you need to know about making a claim on your boat insurance following damage due to natural causes. 

Boat Insurance: Making a Claim

Reach out to your insurance company right away. 

There’s no need to try to mitigate the damage on your own before reaching out to your boat insurance company. As soon as you see damage from natural causes to your boat, you’ll want to reach out to your agency to talk with them about filing a claim. Simply getting more information doesn’t mean that you have to file a claim, and your agent will be able to advise you on smart next steps. 

Don’t move your boat. 

If your boat has been submerged or may be totaled, talk with your insurance company about the best way to move forward. Don’t sign a contract with a salvaging company before you talk with your insurance agency. 

Remove personal items.

If it’s safe to do so, remove personal items from your boat to prevent further damage. If your boat is unsafe to enter, do not attempt to remove your personal items. Report all damage to your personal items to your insurance company. 

Searching for the right boat insurance for your needs? We’re here to help. 

At Midwest Professional Insurance in Kansas, we’re here to work with you to create the right boating insurance policy for your needs. Reach out to us today or stop by to chat with one of our friendly agents and learn more about our boat insurance policies.

Read More

Hurricanes and other storms can be a boat owner’s worst nightmare. At Midwest Professional Insurance, we assist Kansas boat owners with their insurance coverage and offer related guidance.

Here, we’ll take a look at what you need to know about making a claim on your boat insurance following damage due to natural causes. 

Boat Insurance: Making a Claim

Reach out to your insurance company right away. 

There’s no need to try to mitigate the damage on your own before reaching out to your boat insurance company. As soon as you see damage from natural causes to your boat, you’ll want to reach out to your agency to talk with them about filing a claim. Simply getting more information doesn’t mean that you have to file a claim, and your agent will be able to advise you on smart next steps. 

Don’t move your boat. 

If your boat has been submerged or may be totaled, talk with your insurance company about the best way to move forward. Don’t sign a contract with a salvaging company before you talk with your insurance agency. 

Remove personal items.

If it’s safe to do so, remove personal items from your boat to prevent further damage. If your boat is unsafe to enter, do not attempt to remove your personal items. Report all damage to your personal items to your insurance company. 

Searching for the right boat insurance for your needs? We’re here to help. 

At Midwest Professional Insurance in Kansas, we’re here to work with you to create the right boating insurance policy for your needs. Reach out to us today or stop by to chat with one of our friendly agents and learn more about our boat insurance policies.

Three things that your renters insurance policy should cover

If you live in a home that you rent, it’s in your best interests to get insured with an appropriate renters insurance policy. Renters insurance will protect you financially and give you peace of mind inside your rented home in Kansas and Missouri.

To fully take advantage of renters insurance, you should know what this type of insurance covers.

The following are three things that you should be able to rely on your renters insurance to cover. 

Liability expenses

In some situations, a tenant can be held liable for the costs that result from an accident within his or her rented home. Fortunately, renters insurance will typically cover bodily injury costs and other possible liability or injury expenses that could come up.

Liability coverage is especially important since the costs of medical bills or property damage in an accident could be very high. Such costs could wipe out a tenant’s savings without renters insurance coverage. 

Personal property

Personal property coverage is another essential type of coverage that a renters insurance policy should offer. With personal property coverage, you will be compensated if your belongings within your rental unit become damaged or destroyed in certain types of events. 

Alternative lodging costs

If your rented home becomes severely damaged, you might need to find alternative lodging in a hurry. When an issue like this comes up, you may be able to rely on your renters insurance policy to pay for the costs of your alternative and temporary lodging. 

Reach Out To Us

Doing your research before you purchase a renters insurance policy is always important. You can rely on us at Midwest Professional Insurance to help you understand how renters insurance works. Call us today to learn more. We can offer you a quote on a policy to cover your rental home. We proudly serve the residents of Kansas and Missouri.

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If you live in a home that you rent, it’s in your best interests to get insured with an appropriate renters insurance policy. Renters insurance will protect you financially and give you peace of mind inside your rented home in Kansas and Missouri.

To fully take advantage of renters insurance, you should know what this type of insurance covers.

The following are three things that you should be able to rely on your renters insurance to cover. 

Liability expenses

In some situations, a tenant can be held liable for the costs that result from an accident within his or her rented home. Fortunately, renters insurance will typically cover bodily injury costs and other possible liability or injury expenses that could come up.

Liability coverage is especially important since the costs of medical bills or property damage in an accident could be very high. Such costs could wipe out a tenant’s savings without renters insurance coverage. 

Personal property

Personal property coverage is another essential type of coverage that a renters insurance policy should offer. With personal property coverage, you will be compensated if your belongings within your rental unit become damaged or destroyed in certain types of events. 

Alternative lodging costs

If your rented home becomes severely damaged, you might need to find alternative lodging in a hurry. When an issue like this comes up, you may be able to rely on your renters insurance policy to pay for the costs of your alternative and temporary lodging. 

Reach Out To Us

Doing your research before you purchase a renters insurance policy is always important. You can rely on us at Midwest Professional Insurance to help you understand how renters insurance works. Call us today to learn more. We can offer you a quote on a policy to cover your rental home. We proudly serve the residents of Kansas and Missouri.

Why should I get a boat insurance plan?

No matter where you live in Kansas, finding a way to beat the heat during the summer months is very important. For many, a great way that this can be done is by getting a boat, which will allow you to enjoy many fun afternoons on a lake, river, or other waterways. If you are looking for a boat here, you also need to pick a proper insurance policy.

You will need to have boat coverage for various reasons:

Ensure the Boat is Protected

An important reason for anyone to get a boat insurance plan is to ensure their watercraft is protected. There are various risks that boat owners face that could result in a loss of their assets. Fortunately, theft, vandalism, and accident damage can all be protected against if you have boat insurance with comprehensive coverage. This will give you comfort in knowing that you will be able to replace or repair your boat if a loss is incurred. 

Reduce Liability Risks

It can also be beneficial to get boat insurance as it will help reduce your liability risks. Boat owners will always take on the risk that they can cause an accident that results in damage. If this happens and you have boat insurance, you will have support to cover these costs. Having liability coverage is also frequently required if you want to use certain marinas or waterways. 

Contact Us Today

When you are going to buy a boat, you will always want to know that you are getting proper insurance for it. A great way to ensure that you are insured is by calling Midwest Professional Insurance serving the Kansas community. We at Midwest Professional Insurance know the value and complexity of this unique insurance. We will ensure you are able to understand your options and build a proper plan. 

Read More

No matter where you live in Kansas, finding a way to beat the heat during the summer months is very important. For many, a great way that this can be done is by getting a boat, which will allow you to enjoy many fun afternoons on a lake, river, or other waterways. If you are looking for a boat here, you also need to pick a proper insurance policy.

You will need to have boat coverage for various reasons:

Ensure the Boat is Protected

An important reason for anyone to get a boat insurance plan is to ensure their watercraft is protected. There are various risks that boat owners face that could result in a loss of their assets. Fortunately, theft, vandalism, and accident damage can all be protected against if you have boat insurance with comprehensive coverage. This will give you comfort in knowing that you will be able to replace or repair your boat if a loss is incurred. 

Reduce Liability Risks

It can also be beneficial to get boat insurance as it will help reduce your liability risks. Boat owners will always take on the risk that they can cause an accident that results in damage. If this happens and you have boat insurance, you will have support to cover these costs. Having liability coverage is also frequently required if you want to use certain marinas or waterways. 

Contact Us Today

When you are going to buy a boat, you will always want to know that you are getting proper insurance for it. A great way to ensure that you are insured is by calling Midwest Professional Insurance serving the Kansas community. We at Midwest Professional Insurance know the value and complexity of this unique insurance. We will ensure you are able to understand your options and build a proper plan. 

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.

Can Your Condo HOA Require You To Carry Condo Insurance With a Specific Company?

If you are in the process of buying a condo or have recently purchased one in Kansas, you may see that an HOA or condo association states that you have to have condo insurance. They may then recommend or suggest companies that you should purchase the insurance through.

This may leave you wondering if the HOA can require you to carry condo insurance and if they can require you to carry it through a specific company. Read along as Midwest Professional Insurance answers these questions. 

Can Your Condo HOA Require You To Carry Condo Insurance?

Your condo HOA can require you to carry condo insurance. The condo association has a vested interest in keeping your property maintained and cared for since the condo is inside a building they are responsible for. Additionally, if your condo is being financed, the financial company may also require you to carry condo insurance. 

Can Your Condo HOA Require You To Carry Condo Insurance With a Specific Company?

While a condo association and financial institution can require you to carry condo insurance, and can even require you to have a specific coverage amount, they cannot require you to purchase that insurance from a specific company. They can recommend companies, but you always have the ability to select your own condo insurance policies as long as it meets the basic requirements set forth by the condo HOA or financial institution. 

Give Us A Call

Your condo HOA or condo association can require you to carry condo insurance, but they cannot force you to buy it from a specific insurance company. You have a choice of what company you want to purchase it from. If you are looking to purchase condo insurance in Kansas, Midwest Professional Insurance would love to help you. Call us today to get started. 

Read More

If you are in the process of buying a condo or have recently purchased one in Kansas, you may see that an HOA or condo association states that you have to have condo insurance. They may then recommend or suggest companies that you should purchase the insurance through.

This may leave you wondering if the HOA can require you to carry condo insurance and if they can require you to carry it through a specific company. Read along as Midwest Professional Insurance answers these questions. 

Can Your Condo HOA Require You To Carry Condo Insurance?

Your condo HOA can require you to carry condo insurance. The condo association has a vested interest in keeping your property maintained and cared for since the condo is inside a building they are responsible for. Additionally, if your condo is being financed, the financial company may also require you to carry condo insurance. 

Can Your Condo HOA Require You To Carry Condo Insurance With a Specific Company?

While a condo association and financial institution can require you to carry condo insurance, and can even require you to have a specific coverage amount, they cannot require you to purchase that insurance from a specific company. They can recommend companies, but you always have the ability to select your own condo insurance policies as long as it meets the basic requirements set forth by the condo HOA or financial institution. 

Give Us A Call

Your condo HOA or condo association can require you to carry condo insurance, but they cannot force you to buy it from a specific insurance company. You have a choice of what company you want to purchase it from. If you are looking to purchase condo insurance in Kansas, Midwest Professional Insurance would love to help you. Call us today to get started. 

[Video] Difference between Excess Liability & Commercial Umbrella

The Two Minute (or less) Drill!

You’ve put a lot into building your business. I’m here to coach you on how to protect it. I hope you enjoy my new coaching series where I coach you on what you NEED to know so you can focus on what you do best – running your business. Let me know what you think!

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The Two Minute (or less) Drill!

You’ve put a lot into building your business. I’m here to coach you on how to protect it. I hope you enjoy my new coaching series where I coach you on what you NEED to know so you can focus on what you do best – running your business. Let me know what you think!

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