It is difficult to anticipate whether you may lose a lawsuit because of a fender bender or an accident at your home. It is also impossible to anticipate the amount that you would be responsible to pay the winning party. Purchasing an umbrella policy will help protect you against the possibility of financial loss from these events. You do not have to be wealthy to need an umbrella policy - even if you do not have any assets, your wages can be garnished!
What is an Oklahoma personal umbrella policy?
An umbrella policy ensures your existing personal assets and your future personal assets (wages, your future inheritance) against the cost of losing a lawsuit over an accident in your home or a car accident.
When You May Need an Umbrella Policy:
- Drivers with Many Assets
- Having teen drivers
- Owning a business
- A long commute or carpool
- Dog Owners
- Rideshare Drivers
- Owning rental properties
- Being in the public eye due to your job or an activity
- Want to protect your future earnings
- Owning a Boat, RV, or ATV
- Own a swimming pool, trampoline, hot tub
- You frequently have guests over
What It Doesn't Cover:
An umbrella policy is a type of personal insurance, so it will not protect you from claims related to the business you own.
Now that you have had a refresher on what an umbrella insurance is and how it functions, you may find that having supplemental insurance is an ideal choice for you. Give us a call at 918-832-8823 so we can give you all the Oklahoma personal umbrella options and find the right policy for you.