What Is Umbrella Insurance?

umbrella insurance

What is Umbrella Insurance?

Umbrella insurance is like an additional policy to your preexisting coverage. It covers personal injury, property, and can even protect you from lawsuits. It can help provide coverage when you have a policy that has lapsed or expired, as well as cover you in situations such as libel, slander, rental units you may own, or false arrest.

What does Umbrella Insurance Cover?

This additional personal liability insurance kicks in in addition to your homeowners insurance or watercraft insurance. It is design to protect you from any financial fallout should an unforeseen event occur. For example, If you are in a car accident and your policy has lapsed or the amount of damage is beyond the scope of what your policy covers, umbrella insurance can help cover you for what remains. This includes property damage and physical injury.

Do I Need Umbrella Insurance?

While it is true that your existing policies cover a lot of these same things, umbrella insurance covers you beyond those policies and even some things those policies do not cover. Things such as bodily injuries, in the event that someone is injured as the result of an accident. Or if you are sued as a landlord by a tenant, this policy may cover you from slip and fall accidents or dog bites.

What Is Not Covered?

Umbrella insurance is not designed to cover any injuries you personally sustain as the result of an accident, damage to your own property, or criminal actions you commit against another.

How Much Does Umbrella Insurance Cost?

To get a quote on additional personal liability insurance, call the Oklahoma Insurance Connection at 918-742-6500 or send us a message to get started. We can go over what your current insurance policy covers and help you get the additional coverage you need.
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