Y&W

Yaeger & Weiner Law Personal Injury & Railroad Attorneys

Don’t take chances when you're injured
Call: 612-345-8002
Powerful Representation, Friendly Professionals Distinguished Railroad And Personal Injury Lawyers

One problem with some umbrella insurance policies

Umbrella insurance sounds comforting and can be a smart decision for many consumers. It normally works like this: You buy an umbrella insurance policy that broadens the coverage you get from basic policies. So, suppose you get into a car accident, and the bills incurred go past what your basic insurance policy covers. The aim is for your umbrella policy to pick up what is left once you exhaust the basic policies.

Many umbrella policies offer drop-down coverage, and this type of coverage purports to help fill some gaps in your basic insurance. However, a number of companies are misleading about what their drop-down coverage helps with, and many consumers think they have more insurance than they do.

Top issues with drop-down coverage

One big problem with drop-down coverage is that its coverage amounts can be inconsistent. For instance, one situation might trigger coverage of up to $200,000. Meanwhile, the coverage limit for another situation might be a mere $40,000. Agents may present these coverage options in such a way that consumers think $200,000 is the standard.

Another issue is that consumers might not understand who the policy covers. They may assume, or agents may imply, that it covers everyone in a household. The reality could be that it covers only one person, such as the policyholder.

A third problem is that insurance coverage can get really complicated with a lot of details, exclusions and triggers. Drop-down policies are often tough to understand, and some insurance companies take advantage of that fact. Some are reputable and genuinely helpful, of course, while others hide behind big words and consumers’ hesitation to ask questions.

Take action

If you already have drop-down coverage with your policy, an attorney can help you understand if it is fair. In fact, an attorney can evaluate the types of insurance that are most likely to benefit you and your family.

No Comments

Leave a comment
Comment Information

Verdicts &Settlements

Email Us For A Response

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Y &W

Yaeger & Weiner Law Minnesota Personal Injury Attorneys

Yaeger & Weiner Law

Yaeger & Weiner Law 2701 University Avenue SE Suite 202 Minneapolis, MN 55414 Phone: 612-345-8002 Fax: 612-235-4401 Minneapolis Law Office Map