Advising MO Clients on Important Insurance Coverage Decisions
Individuals have auto and home insurance policies to provide coverage for property damage, medical bills, and personal injury reimbursement in the event of an accident or another type of adverse event. Additionally, if you negligently cause injury to another person, your insurance policy should provide compensation to the injured victim. While these policies are generally adequate to cover the losses for relatively minor injuries, you may be in trouble if the expenses exceed your policy.
The cost of treatment for catastrophic injuries can easily reach into the hundreds of thousands of dollars and, if you or another person suffers a permanently disabling injury, the coverage you need may reach into the millions. In such cases, your average auto or home insurance policy will likely be inadequate and your personal assets may be at serious risk.
What is Umbrella Coverage in Missouri?
Umbrella coverage is purchased in addition to your traditional policies in case you need coverage above and beyond your standard policies. For example, if you cause a car accident and another motorist suffers a severe spinal cord injury, your auto insurance policy may be quickly exhausted since their medical treatment will certainly be costly. In such situations, umbrella coverage will cover the rest once your policy is exhausted.
St. Louis Car Accidents Can Happen to Anyone
Too many individuals fail to carry necessary umbrella coverage because they mistakenly believe that such an accident would never happen to them. In reality, car accidents can happen when you least expect it and can have serious consequences. Some injuries that may occur in car accidents and may exceed a traditional insurance policy include the following:
- Traumatic brain injuries
- Spinal cord injuries and paralysis
- Crushed limbs requiring amputations
- Severe burns
- Fatal injuries
If your insurance is unable to cover the costs of medical care for the victim, you may face a personal injury or wrongful death claim in court. If a judgment is issued against you for a significant amount, your assets including your home, cars, investments, and other financial accounts could be at risk. Large judgments can also have a significant effect on your credit and even lead many individuals to file for bankruptcy. For these reasons and more, having umbrella coverage is often a good idea.
Contact a Skilled Umbrella Coverage Lawyer in St. Louis for a Free Consultation Today
There are many different types of insurance policies and knowing how to choose adequate coverage can be confusing. Many insurance companies may try to sell you policies you do not need or may not inform you of the ones that you do. Additionally, once you have certain policies, an insurer may attempt to wrongfully delay or deny payments that you deserve. Our MO umbrella coverage attorneys at The Bruning Law Firm have extensive experience dealing with all types of insurance claims and advising clients on the best types of insurance to ensure that their assets are protected in the event of an accident. If you need assistance with any type of insurance or personal injury matter, please call our St. Louis office at 314-735-8100 today.
