Umbrella Insurance for High-Net Worth Individuals

The Importance of Umbrella Insurance for High-Net-Worth Households

At the Marla Williams Agency, which serves all of Kansas, we have noticed that households with high net worth often need umbrella insurance policies. Juries frequently levy significant awards against affluent individuals in negligence cases.

What are the Possible Situations that Can Lead to Large Jury Awards?

Several scenarios could potentially lead to significant jury awards against affluent individuals: – Your child may cyberbully another child online, and the child’s parent might sue you. – A dinner party at your house with numerous guests can lead to an accident, such as someone slipping on an iced surface. – Involvement in a high-speed crash after having had a few too many drinks can result in injuries or death of the other driver. While ordinary homeowner or auto insurance policies can cover you in these situations, you should confirm this coverage with your agent at the Marla Williams Agency. However, these policies could potentially have a limit as low as $500,000 in Kansas.

Need for Umbrella Insurance

You can acquire umbrella insurance that protects you for jury judgments up to $5,000,000, but remember, Kansas juries sometimes award more than that. To circumvent the devastating financial consequences of a significant jury award, you must have an umbrella insurance policy tailored to your unique needs. We at the Marla Williams Agency are here to help you find the right policy, one that can offer you protection upwards of $100,000,000.

Umbrella insurance becomes crucial if you sponsor charity or political events at your home, serve on boards of directors, rent your home for special events, own a personal athletic facility or swimming pool, or hire butlers, nannies, maids, or gardeners. Furthermore, households with teenagers need coverage for joint and several liabilities. This could mean that aggrieved parties can come after your wealth, even if other teenagers are also at fault in an incident alongside your child.

Get in Touch

The Marla Williams Agency is ready to discuss your next umbrella policy. Don’t let an unfortunate incident strip away your wealth. Contact us today.

Is it a good idea to get an umbrella insurance plan?

Personal liability risk is something that needs to be taken seriously by all people. For those that are in the state of Kansas, there are various ways you can go about managing this risk. One of the most effective ways you can do this is by getting a proper umbrella insurance plan. There are various reasons why getting a new umbrella insurance plan is a good option for those in this state. 

Get Additional Coverage

One of the reasons you should have an umbrella insurance plan is so you can get additional coverage for situations that are covered by your home or auto plans. Most liability risks that people will face are covered by home or auto liability plans. However, those plans do have a coverage limit. When you invest in an umbrella insurance plan, you will have additional support that is on top of the existing policies. 

Protection for More Scenarios

It is also a good idea to have an umbrella insurance plan as it will provide protection for more scenarios. There are a lot of situations and scenarios that are not covered by other insurance plans. If you have a proper umbrella insurance plan, it will offer broader coverage. This will help ensure you are protected against liability risks that you may not already be aware of or be considering. 

Reach Out To Us

Umbrella insurance continues to be a great way for someone in the state of Kansas to offset any personal liability risks. As you are looking for this coverage here, you can begin the search by calling our team with the Marla Williams Agency. When you work with the Marla Williams Agency, you will learn much more about this type of coverage and can get the help necessary to build a new policy. 

Why Umbrella Insurance Should Be A Priority

Umbrella insurance is a type of liability insurance that provides an extra layer of protection for individuals and families. It offers coverage above and beyond the limits of your homeowner’s insurance, auto insurance, and other liability policies. In other words, it acts as a safety net to protect your assets and financial future. If you’re living in Kansas, you’ll want to prioritize umbrella insurance, especially if you’re looking to protect yourself and your family from potential lawsuits and financial ruin.

Marla Williams Agency in Kansas is a leading provider of umbrella insurance, helping families and individuals secure their assets and financial future. We understand that life is unpredictable, and accidents can happen at any time. That’s why we offer comprehensive umbrella insurance coverage that gives you peace of mind knowing that you and your family are protected.

Why Umbrella Insurance

One of the main benefits of umbrella insurance is that it provides added protection for your assets. If you’re sued for an amount that exceeds the coverage limits of your other liability policies, umbrella insurance can help you pay for the remaining costs. This type of insurance can also provide coverage for damages and legal fees, helping you avoid the financial burden that comes with a lawsuit.

Another advantage of umbrella insurance is that it covers a wide range of incidents. For example, it can provide coverage for accidents that occur on your property, car accidents, and even libel and slander. This means that you’ll be protected from a variety of potential liability situations, giving you peace of mind knowing that your assets are protected.

Give Us A Call

Umbrella insurance should be a top priority for individuals and families living in Kansas. By working with Marla Williams Agency, you’ll have access to comprehensive coverage that gives you peace of mind knowing that you’re protected. Don’t wait until it’s too late to secure your assets and financial future. Contact us today to learn more about our umbrella insurance options.

What Is Umbrella Insurance?

Umbrella insurance is a different type of coverage from most other insurance types. It works with other insurance policies that you have in order to give them a boost of coverage. When you need more liability insurance for policies that you already have, it’s a smart idea to get an umbrella insurance policy. If you are interested in getting one of these policies, call us now at the Marla Williams Agency in Kansas.

Umbrella Insurance Coverage: What You Need To Know

Home and Auto Insurance

When you already have auto and home policies in effect, umbrella insurance is a way to add to them both at one time and with one policy. The amount of liability coverage inside auto and home policies can be too little to pay for serious accidents. It’s also highly expensive if you want to add more liability coverage directly onto both of these policies. A way to get more liability coverage for both and to do it for far less cost is to get umbrella insurance. This gives you a blanket of more liability coverage that comes in handy if there is an accident that you are liable for. Without it, you could be responsible for paying a lot of medical bills and other costs when your liability coverage won’t cover all of them. 

How This Coverage Works

When you have an umbrella policy, it doesn’t come in first to pay after an accident has happened. The first policy to come in will be your auto or home policy. Once it has maxed out, your umbrella policy can come in to pay whatever is left over of the bills you are responsible for to save you from having to pay them. 

Get More Liability Coverage

To be better protected with an umbrella policy, you can give us a call at the Marla Williams Agency in Kansas.

Why would someone invest in an umbrella insurance plan?

The state of Kansas can be a great place to work and live. To ensure that you continue to feel protected when living here, having proper insurance support is quite important. When you get an umbrella plan, you can obtain additional personal liability coverage. There are a few reasons that a person in this state will want to have this additional coverage. 

They Want Protection Against Large Claims

A reason that someone would want to have an umbrella plan is so they can protect against larger claims. If you are responsible for many types of accidents, the damages will be covered by either home or auto liability plans. However, every insurance plan has a policy maximum and you may need to pay for damages if they exceed your base policy. If you get an umbrella policy, it will provide additional coverage on top of your other insurance plans. 

Protection Against Unexpected Risks

You should also get an umbrella plan as it is a great way to protect against unexpected liability risks. While auto and home plans come with liability coverage, they do not offer the same blanket protection that can come with umbrella coverage. When you have umbrella protection, you will be comforted knowing that you have this blanket coverage, which will offer peace of mind and this support. 

There are a lot of great reasons to get an umbrella insurance plan. If you are looking into new insurance coverage here, you should start your insurance search by speaking with Marla Williams Agency. There are a lot of choices to make with any insurance decision and Marla Williams Agency can help you evaluate your options. This will help you pick an umbrella plan that offers the right amount and type of additional liability support.