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Extended insurance coverage by umbrella policy is explained

Umbrella insurance is a policy in your insurance that is often misunderstood or overlooked. Many citizens of Wichita, Derby and Andoverdon’t realize that having an umbrella policy can fill the gaps in their insurance coverage.

The term “umbrella” comes from the idea that it will cover liability claims from all the policies underneath it; this includes auto insurance and homeowners insurance. Umbrella policies are sold in increments of one million dollars. So if your auto insurance has limits at $300,000 and your homeowner’s insurance covers up to $500,000 then with an umbrella policy your limits will can become as high as $1,300,000 and $1,500,000 for your claims.

You might be thinking that’s great, but you don’t need that excessive amount. What most people don’t realize, however, is that an umbrella policy will also cover other claims such as false arrest, libel, slander or invasion of privacy. Also, if you are sued, you may be forced to pay not only based on your current assets, but also your future income. Most importantly the right umbrella policy will include additional uninsured motorist coverage. What that means is that if you are badly injured by a driver with little or no insurance you can recover for the full value of you losses from your own insurance company under your umbrella policy. The right umbrella policy not only protects you when you brake the rules, it protects you when someone else brakes the rules and hurts your or your family.

Many people suggest getting insurance that has limits as much as your net worth. For example, if you earn more than $25,000 per year, you should consider getting $250,000 umbrella coverage. Because umbrella coverage kicks in after you’ve exhausted your liability coverage of your homeowners or auto insurance, umbrella coverage is relatively inexpensive. It is also important when deciding how much umbrella coverage to get, whether you can afford to pay for injuries and losses caused to you and your loved ones by someone who does not have insurance.

If you do not have health insurance or cannot afford health insurance then you really run a huge risk if you don’t pay a few dollars extra a month for an umbrella policy that will cover you if you are injured in a car wreck by someone without enough insurance. Since automobile collisions are one of the most common forms of injury you are protecting your self and your family with a good umbrella policy.

If you have had a Kansas car wreck injury that was not your fault and need medical treatment, you need an experienced professional who can help you get back on the road to recover. Call us today at 316-269-1414. Our Kansas personal injury attorney’s will provide you a free initial consultation and if we take your case you don’t pay a dime unless we recover money for you. Even then we only take a percentage of the total amount of your recovery.

If you have questions on what you should be looking for when you are making a decision to hire a Kansas personal injury lawyer, read our article located here.

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Ray Hodge & Associates proudly represents victims and their families across the state of Kansas, including Wichita, Andover, Derby, Goddard, Haysville, Mulvane, Rose Hill, Newton, El Dorado and Hutchinson. Call today for a free consultation all over the state of Kansas. We have proudly served clients in Sedgwick, Butler, Sumner, Harvey, Kingman and Reno Counties.