Umbrella insurance is a special type of coverage that provides an additional layer of protection beyond standard insurance. After a standard insurance policy’s coverage amounts have been reached, the umbrella policy can pay out additional money to help cover more significant losses. While not everyone may need umbrella insurance, there are a few reasons why this kind of coverage is recommended.
Here is a summary of when umbrella insurance from Midwest Professional Insurance in Kansas is a good investment. We can provide additional coverage options and answers during a conversation with an agent.
For those who own extensive assets
Some people may want additional coverage through an umbrella policy to protect their extensive assets. These may include real property and real estate, high-value automobiles, business assets, and other things with significant value. Standard insurance policies likely do not provide enough coverage to entirely protect these kinds of assets owned by high-net-worth individuals.
High-risk situations
People who engage in certain activities, have certain jobs and are in certain situations always face a greater risk of loss. For example, those who live in high-crime areas in Kansas are exposed to a greater risk of theft and vandalism. People who drive a lot are also at a higher risk of being in a costly motor vehicle accident. Those with added risk due to their career or lifestyle will likely want to invest in an umbrella policy.
Our agents can provide more info.
Midwest Professional Insurance has agents available who can answer questions and set up a policy. Please get in touch with us today to learn more about the benefits of umbrella insurance.
