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Umbrella Insurance in West Virginia

Umbrella Insurance in Kingwood, WV is triggered to pay what you owe when you have been sued for damages that go beyond the insurance liability limits of your primary insurance policies. With umbrella insurance, you can easily avoid financial ruin whenever you accidentally cause serious damages or major injuries to other people, which can attract huge amounts of liability. In other words, umbrella insurance acts like a fail-safe for all your savings and assets.

How umbrella insurance works

Essentially, your primary insurance policies in West Virginia such as home or auto insurance are supposed to provide you with financial protection up to the limits that you selected. Therefore, your personal umbrella insurance policy from Smith Insurance Agency of West Virginia will kick in when your primary insurance has been fully exhausted. In addition, the umbrella insurance can provide you with coverage that is not included in your primary insurance policies.

For example, if you are involved in a car crash in Kingwood, WV where it has been determined that you are at fault, and you have been sued for $500,000 in medical treatment costs resulting from injuries, damage to property and lost wages, you have to pay the full amount. But, if your car insurance’s limit is only $300,000, you will be compelled to pay the remaining amount out-of-pocket. This is where your umbrella insurance policy kicks in to protect you financially by paying the remaining $200,000. Remember, the insurance agency may require you to purchase a base insurance policy before you can sign up for umbrella insurance.

Who needs umbrella insurance?

Residents of West Virginia who fall under the following classifications should consider purchasing umbrella insurance:

• Property owners
• People with significant savings and assets
• People who are often worried about liability claims filed against them whenever they travel outside the United States
• Owners of things that can easily attract personal injury claims such as pools, dog, and trampolines
• People who often engage in activities that predispose them to being sued such as volunteering, coaching kids, being a landlord and participating in sports like hunting or skiing.

It is prudent to consider umbrella insurance that can at least cover your net worth. You can also include your potential income consideration into your umbrella insurance. If you want to learn more about umbrella insurance and find the best quotes that satisfy your needs, visit our website at Smith Insurance Agency of West Virginia today.