Kansas Umbrella Insurance

Kansas Umbrella Insurance: There When You Need It

Many Kansas residents enjoy the beautiful countrysides and the slow-paced life that rural living in Kansas affords, while residents of Kansas City enjoy an active urban cityscape. Many of the residents of Kansas City live close to their offices, so walking or biking to work is common. Kansas is also frequently voted in the top cities to live in within the United States. The Huffington Post included it in the "Top 20 Cities to Visit in Your 20's," and Business Week named Kansas City as #15 in "America's Top 50 Cities."

With one of the faster growing economies in the United States, it's no surprise that many companies and families relocate to Kansas. Along with the increased population and activity comes the potential for accidents and injuries.  Umbrella insurance's sole purpose is to protect you from the impact these can have.

Kansas Lawsuit Facts

  • Between 2002-2003, 9 out of 10 tort trials involved personal injuries.
  • 84 percent of plaintiffs that were given a judgement received a median award of $201,000.
  • There are an average of 15 million lawsuits every year in the United States.

We live in a litigious society. Whether it's a slip and fall, dog bite, or car accident, people love to be involved in lawsuits. Even individuals who have all the necessary insurances required by law may still find themselves at the wrong end of a lawsuit, having to pay out of pocket for damages. A umbrella insurance policy is one very important way to protect yourself from these types of litigation.

What is Umbrella Insurance in Kansas?

Umbrella insurance is a policy, usually sold in $1 million increments, that increases the limit of your liability policies to provide extra coverage for you.

You already have some liability built into your existing insurance policies, such as your homeowners insurance policy, auto insurance policy, and any other boat/rv policy. However, the liability limits on these policies tend to be dangerously low. A small accident can easily meet your liability limits. A large accident, or an accident involving a fatality, can exceed these coverage limits easily. With an umbrella insurance policy in place, you have a much higher liability limit, protecting you from risks and financial responsibility.

How Does Umbrella Insurance Work in Kansas?

An umbrella insurance policy works with the insurance policies you already have in place, extending your liability coverage. For instance, if you have $100,000 in liability insurance built in to your auto policy, and then a $1 million umbrella insurance policy in place, you have a total of $1.1 million in liability coverage. Additionally, this coverage also applies to other policies. If your homeowners insurance has a $200,000 liability limit, your $1 million umbrella policy extends that to $1.2 million. The umbrella policy extends your liability on all your insurance policies.


Additionally, if you are a high net worth individual, umbrella insurance may be even more necessary. It's a fact that the more money you have, the more "at risk" you are for lawsuits. Since an umbrella policy covers so much, it's a wise investment.


What Does Umbrella Insurance Cover in Kansas?

Umbrella insurance provides double duty when it comes to coverage. Not only does it extend your liability coverage, but it also covers things that other policies don't. Umbrella insurance can cover the following extra items:

  • Libel
  • Defamation
  • Slander
  • False arrest

If you are deemed at fault for any of the above mentioned events, your umbrella policy can cover you.

How Much Does an Umbrella Insurance Quote Cost in Kansas?

Umbrella insurance costs vary due to a number of factors. When shopping for umbrella insurance in Kansas, be sure to be familiar with the following in order to get the best quote:

  • Your net worth: Since the more you have, the more you have to lose, your net worth is an important factor in getting you the most coverage.
  • Your location: Every state has different risks.
  • Your credit history: Your credit history can impact every insurance policy premium. An umbrella policy is no different.
  • Driving records in your household: Umbrella policies cover every driver in your household, so each member is required to submit their driving record. If there is a teenage driver in your household, you may pay more for umbrella insurance due to the increased risk.
  • Your risk profile: Insurance companies need to get a good grasp on your risk before writing you a policy. This includes whether you own a pool, trampoline, ATV, engage in "dangerous" sports, or if you own pets or livestock.
  • Preferred deductible/preferred coverage amount: Typically, the higher the deductible, the less the premium. Once you know how much umbrella insurance you'd like, you can choose how much of a deductible you'd like to pay if an event occurs.

ACE Private Risk Group gives the following averages for umbrella insurance costs:

  • $383 for $1 million in coverage for a household with one home, two cars and two drivers
  • $474 for $2 million in coverage for the same household
  • $608 for $5 million in coverage for the same household
  • $999 for $10 million in coverage for the same household
  • $1,578 for $10 million in coverage if the household also has two more homes, two more cars, a boat under 26 feet, and a driver who is under 25

Are There Discounts Available on Umbrella Insurance in Kansas?

There are usually discounts available for many insurance policies, umbrella insurance included. When getting quotes for umbrella insurance, be sure to ask about available discounts, including the following:

  • Multi-policy discount
  • New customer discount
  • Good driver discount
  • Good credit discount
  • Claims-free discount
  • Paid-in-full discount
  • Military discount
  • Educator discount

Since every insurance company has different discounts, it's important to ask about any discounts you may be eligible for.

How Do I Get Umbrella Insurance in Kansas?

When shopping for umbrella insurance, it's important to get the right amount of coverage for your individual situation. A Trusted Choice® agent is always available to help you discuss coverages, suggest discounts, or even help you file a claim.

Now, who's ready to get their insurance problems solved?