Umbrella Insurance: What It Is and Why You Need It

Umbrella insurance isn’t as commonly discussed as homeowners and vehicle insurance, but it can be just as important. It’s a type of policy designed to cover you over and above the limits of your other policies. That can add to your peace of mind and make it easier for you to feel secure if another party makes claims against you. If you’re in the Hutchinson, KS area, DJ Kauffman Agency can help you find the right level of umbrella coverage, so you can protect the people and things that matter most.

An umbrella policy will offer you additional support if a claim exceeds the limits of your other insurance policies. A policy for a vehicle, for example, has an upper limit for coverage. If a claim exceeds that limit, your umbrella policy can take over and handle the rest of the claim for you. That may allow you to preserve important assets and reduce any anxiety you’re facing.

By working with a trusted, knowledgeable insurance agent, you can get the information to choose the right policy. Your level of assets, other insurance policies, and specific life situations can all make a difference when you’re seeking out the policy that would most fully meet your needs.

Protecting what matters to you should focus on any insurance policy, and an umbrella policy is no different. When you reach out to the DJ Kauffman Agency, you’ll get your questions answered and have policy options you can choose from. Then you can add coverage on top of what you already have and experience additional peace of mind. Throughout the Hutchinson, KS area, umbrella insurance gives you a way to experience life with less worry and get back to spending time on activities you enjoy.

What is Umbrella Insurance

Not everyone is familiar with the term umbrella insurance. With so many different insurance options, it can be difficult to keep up. But umbrella insurance can be important if you catch yourself in a sticky situation, and the costs of that can run incredibly high. We will cover in this article a bit more about what umbrella insurance is, and why you might need it. 

DJ Kauffman Agency in Hutchinson, KS provides umbrella insurance, and we can discuss several quotes from different providers so you can check out your options. Don’t worry if you don’t understand all the insurance-related jargon, that’s why we’re here to help.

What is umbrella insurance?

Umbrella insurance is a form of liability insurance that covers your costs in case you get sued. Reasons for getting sued that you can claim on umbrella insurance usually include that you’ve caused physical harm to a person or their property, but this can also be mental damage, damage done to someone’s pet, or damage done by your pet.

Types of liabilities

We listed some possible scenarios you could need umbrella insurance for.

  • Imagine you’re out walking your dog and your dog attacks a person and causes them harm.
  • Another option could be that you’re a journalist and have interviewed someone who presses charges against you on the grounds of mental harm. 

Many more options are possible, such as car accidents in which another person or property gets hurt or if you’re arrested wrongfully. 

As umbrella insurance covers many liabilities, it is incredibly handy to look into whether you need it right away. Feel free to call DJ Kauffman Agency’s office in Hutchinson, KS to discuss quotes.

Is It True That Umbrella Insurance Is Just for the Rich?

At DJ Kauffman Agency, we always receive these questions from our Hutchinson, KS clients: Do I need umbrella insurance? Isn’t umbrella insurance for the rich and famous? Well, most people understand that umbrella insurance offers extra liability protection to their home, boat, and auto insurance. However, many don’t understand who needs this type of insurance. Regrettably, many people think that umbrella insurance is just for the wealthy. While that may be true, it’s not always the case. In this blog, we will try to explain why anyone that has a livelihood needs umbrella insurance. 

What does umbrella insurance cover?

Umbrella insurance is extra liability protection that protects your assets and earnings from significant financial claims exceeding the limits of your conventional insurance coverages. Umbrella insurance is likely to cover you against the below:

  • Bodily injuries caused to others
  • Property damage to third parties
  • Personal liabilities like libel and slander
  • Pays for legal costs

It’s worth noting that umbrella insurance covers other people and not damages or injuries to you. For instance, if you are involved in an auto accident, your car’s damage is covered by your collision coverage. However, bodily injury, property damage, and legal suits from the other driver (exceeding your auto insurance limit) are paid by umbrella insurance.

Who needs umbrella insurance?

In America, anyone can be sued. In light of this, you may need umbrella insurance if you are at risk of being sued. Lawsuits can be expensive and can wipe out your assets and savings, especially when the legal case is ruled against you. That said, if you are in the below categories, you need umbrella insurance as soon as possible. You need umbrella insurance if you:

  • Own property like a home, boat, or vehicle
  • Coach kids or youth sports
  • Participate in high-risk hobbies like hunting or skiing
  • Have a dangerous pet
  • Have strong opinions on social media
  • Have significant assets
  • Are a volunteer in a charitable organization

As you can see, umbrella insurance isn’t just for people who have a lot to lose. Umbrella insurance is suitable for anyone at the risk of being sued.

Get umbrella insurance today!

Are you looking for umbrella insurance in Hutchinson, KS? Please get in touch with DJ Kauffman Agency for an affordable quote.

Three benefits you enjoy when you purchase umbrella insurance

Consumers in Hutchinson, KS can enjoy a lot of great benefits by investing in umbrella insurance. Umbrella insurance is one of the types of insurance we provide at DJ Kauffman Agency Inc.

If you invest in umbrella insurance, you can enjoy the following three benefits.

Funding for legal representation in the event of a liability lawsuit as a landlord

Landlords put themselves at risk of certain liability damages. Tenants can sue a landlord for a variety of possible reasons. Umbrella coverage will cover the costs of legal representation for a lawsuit brought on by tenants. 

Coverage for damages resulting from slander and libel accusations

Just about anyone can find themselves as the target of a lawsuit for slander and libel. It’s easy to underestimate the resulting costs of such a situation. Not only is there legal compensation, but also the cost of any possible settlement you may have to pay. 

Umbrella insurance covers all the costs if you are sued for slander or libel. 

Coverage for the costs of vehicle accident damages

You may have auto insurance, but your auto insurance policy has policy limits. Your auto insurance company won’t pay more than these limits, even if you’re involved in an accident with total costs above your policy limit.

Fortunately, the umbrella insurance coverage will provide you with the benefit of covering costs in excess of your auto insurance policy limits. This gives you peace of mind while you’re behind the wheel. 

We’re here to help you meet your umbrella insurance needs in Hutchinson, KS. Contact us with any questions you have, and we’ll be glad to help you enjoy the three great benefits mentioned above. 

How does umbrella insurance protect someone in Kansas?

Having proper insurance coverage is an important responsibility for anyone that is in the Hutchinson, KS area. When you are looking to improve your insurance situation, one important form of insurance to consider is umbrella insurance. When you get an umbrella insurance policy, you will get additional liability insurance that can help to protect someone in a few different ways.

Covers Other Situations

Most people are already going to have liability insurance through their auto and home or condo insurance policies. While these forms of insurance do provide some valuable coverage, they are not completely inclusive when compared to all of the risks that you take on. An umbrella insurance policy will give you additional coverage that can cover situations that would not normally be covered by your other policies.

More Liability Coverage

Another advantage of umbrella insurance is that it can provide you with more coverage than what you normally need to have. While the coverage that you have through your base insurance policies will cover most claims, there is always a risk that you will be facing a larger claim due to significant damages. If you have a full umbrella insurance policy, you will actually get additional liability coverage on top of your base insurance policies. 

There are clearly many ways that an umbrella insurance policy can protect someone in the Hutchinson, KS area. If you are interested in getting this additional liability insurance coverage, you should call DJ Kauffman agency Inc. as soon as you can. The team at DJ Kauffman Agency Inc. can help you to evaluate your personal risk profile to determine whether umbrella insurance is right for you. We can then help you find an umbrella insurance policy that gives you the coverage that you want.