Category: Umbrella Insurance

Umbrella insurance can be beneficial if your primary insurance policy has limits that could be maximized or exceeded by an unexpected situation or circumstance. In essence, umbrella insurance is the backup insurance that kicks in after your primary policy has reached its limits, or when your primary policy doesn’t cover something.

Our Woodbury, MN team at Kriener Insurance understands the benefits that umbrella insurance can provide and is committed to helping business owners get the extra coverage they need. 

Does Umbrella Insurance provide Cyber Coverage?

As with any insurance company, you need to talk to an insurance agent to determine exactly what an umbrella insurance policy would cover in terms of cyber benefits and protection. However, an umbrella insurance policy can provide cyber coverage in the form of cyber liability insurance.

There may be other forms of cyber coverage as well. However, you need to speak with an agent to determine exactly what’s covered. Under an umbrella insurance policy, Cyber liability insurance typically provides coverage for various cybercrimes as well as data breaches.

This coverage may also extend to first-party financial loss as well as third-party financial loss. 

Do I need Umbrella Insurance? My business is primarily online.

Even if your business is conducted primarily online, you still have assets to protect and security hazards that you need protection from.

Now, more than ever, cyber crimes are rampant and may be more prevalent than real-world crimes, or at least just as prevalent. As a result, investing in protection for your online business may be a good idea.

Give Us A Call

Speak with a team member at Kriener Insurance. We’d be happy to discuss the benefits that umbrella insurance can provide for your specific needs in Woodbury, MN. 

When you have home and auto insurance policies, you have some protection, but you might not have as much as you thought. Many home and auto policies are lacking in one key area of coverage, and that can leave people vulnerable to lawsuits and overages when the coverage isn’t enough. Getting umbrella insurance is a great way to get more coverage without a major cost increase.

If you are interested in umbrella insurance, give us a call today at Kriener Insurance in Woodbury, MN.

Get More Liability Coverage

Your home and auto policies each have some coverage for liability, which pays for medical bills and certain other expenses when an accident happens. This is an accident in your home with home insurance and an auto accident that you cause for your auto insurance. The problem is that these policies often come with very little liability coverage when you consider the high cost of medical bills, lost wages, etc.

Umbrella insurance is a way to add more liability coverage to both of these policies at the same time. And, it costs much less to get umbrella insurance than it does to add more liability coverage onto your home and auto policies. 

How It Works After an Accident

When there is an accident that you caused with a vehicle or that happens to a third party in your home, your auto or home insurance weighs in first. It pays what it can toward the medical bills and other costs until it reaches its maximum. After this, when there is an overage left to pay, your umbrella insurance comes in to pay that overage. This can save you thousands on medical bills after your home or auto coverage has maxed out. 

Get Your Umbrella Policy

To get started with an umbrella insurance policy, call us at Kriener Insurance in Woodbury, MN. 

Many people think umbrella insurance is a waste of money and just a way for insurance agents to sell a little more – but hear us out! There are so many financial benefits to having umbrella insurance; you just have to find the right coverage. The team at Kriener Insurance is here to help. 

Residents of Woodbury, MN and the surrounding areas are typically homeowners, who drive vehicles and many of them have other investments. These may include rental properties, a small business, or life insurance. Umbrella insurance exists as an add-on to the insurance policies you already hold on these valuable investments. 

While your coverage may be good for your home insurance or commercial insurance, umbrella insurance can offer that next step of protection that becomes so valuable when you need it the most.

Particularly if you have additional assets, like other properties, a life insurance policy, a boat, or an RV… these are all valuable assets that umbrella insurance can protect if your coverage runs out. 

The team at Kriener Insurance are well experienced at assessing the value of any current assets and determining if your coverage lines up appropriately. If coverage falls short, there are various recommendations we can make to relieve your financial responsibility. Umbrella insurance is one of these options. 

Before you write umbrella insurance off as a fluffy insurance add-on, do some research and determine whether or not you think it may be a good fit for your financial protection in Woodbury, MN. 

If you have any questions or want to learn more about how umbrella insurance can provide peace of mind for your family, contact the team at Kriener Insurance today. We’re here to help! 

Investments come in many packages. Your home, bank accounts, and business ventures are all considered investments. As such, they each need protection so that they can best serve you in the future. At Kriener Insurance, serving Woodbury, MN, we can help you better understand how to protect all of your investments with umbrella insurance. 

What Is Umbrella Insurance?

Umbrella insurance is a unique insurance product which can bring added protection and security to your investments. If you already have home, vehicle, life, or commercial insurance in place, umbrella insurance can be an add-on policy for catastrophic events. 

Each type of insurance product will have limits to the coverage the policy will payout. If an event takes place that exhausts these policies’ limits, your assets could be left vulnerable to make up the difference. Umbrella insurance can kick in to provide additional coverage and payouts. 

Who Needs Umbrella Insurance?

Anyone can benefit from umbrella insurance, but it is often most beneficial for those who have significant assets they wish to protect. This can include retirement accounts, investment accounts, properties, and more. If your current policies are exhausted after a claim, those assets can be held liable by law to satisfy the expenses. Umbrella insurance will provide that needed extra layer of protection to make sure this doesn’t happen.

How Much Coverage Do I Need?

Each individual will have a unique situation which will require evaluation. Sitting down with an insurance representative is a great way to better understand your insurance needs and to figure out how much coverage you will need.

If you would like to learn more about insurance products and services, please contact us at Kriener Insurance, serving Woodbury, MN. 

There continue to be many different insurance coverage forms that the typical Woodbury, MN area resident will need to have. While most people here will need a home or auto policy, people should also consider their additional personal insurance needs. One type of coverage that you should consider getting is umbrella insurance. There are several reasons why you may need to get a new umbrella insurance policy. 

Insurance Gives Covered for Significant Claims

A lot of people will want to get an umbrella insurance policy because it will give coverage for significant claims. If you are ever at fault for an accident, you may get coverage through your home or auto policies. However, these policies do have coverage limits. Fortunately, you can still get coverage for significant claims if you get an umbrella insurance policy on top of your existing policies.

Insurance Protects For Unforeseen Scenarios

You will also want an umbrella insurance policy as it can give coverage for situations that you cannot predict. While other policies cover some liability risks, there are always situations that can be hard to predict. When you have umbrella insurance, you will get broad coverage that can cover these unforeseen situations. 

There continue to be many great reasons to invest in an umbrella policy in the Woodbury, MN area. This type of insurance offers many advantages and benefits to policyholders but can be complicated to choose from. When you are interested in getting this additional coverage, you should speak with the Kriener Insurance team. The team with Kriener Insurance understands how important this coverage is, and they can help you build a policy that will provide you with the right type of coverage. 

If you don’t think that your primary insurance policies (auto, home & business) are sufficient to protect the totality of your assets, then an umbrella policy is something to consider. In short, an umbrella policy kicks in once your existing coverage amounts have been exhausted and is designed to protect your assets like home, business, cars, properties, and more from being seized if you are sued. At Kriener Insurance in Woodbury, MN, our team of insurance professionals can work with you to determine the value of your assets and compare it to your current insurance coverages. If your assets exceed your insurance coverages, then we’ll work tirelessly to find you and umbrella insurance that ensures your peace of mind.

1. Teen Drivers

If you already have or will soon have a teen driver in your household, then you’ll want to consider an umbrella insurance policy. With the risk of accidents by new drivers significantly higher than for any other demographic, it is crucial to ensure that the totality of your assets be protected in case you are sued due to an accident. If your teenage driver is found at fault, the additional coverage from your umbrella policy can be applied towards the cost of a lawyer for legal defense.

2. Dog Bites

We all love our furry friends, but the reality is that one biting incident can cause a headache for you and your dog that may result in the pet being seized. If your dog bites another animal or person, you could be on the hook for paying the other person’s medical bills, lost wages from missed work due to the injury, and even pain & suffering damages.

3. Community Volunteering

 You might be doing the right thing by helping others in your community. However, even if you volunteer through a charitable organization or church, someone could still sue you for inappropriate behavior or negligence. Some charities may help you pay for any costs associated with the lawsuit, but the individual who made the allegations could still come after you for slander. Having an umbrella insurance policy will help protect your assets in a case like this.