If you live, work, or play in the Oklahoma area and are looking for additional liability insurance, an umbrella policy might be the ideal affordable solution to meet your specific insurance requirements. According to the insurance professionals at Insurance Source Solutions:
- Umbrella insurance coverage begins after the insured reaches the established limits of the existing policies.
- The primary purpose of umbrella insurance for Oklahoma residents is to offer extra protection in case they face a lawsuit involving damages and expenses that exceed the established limits of current insurance coverage.
- Umbrella insurance offers a viable option to those who want to safeguard and stabilize their family’s financial future.
Understanding the Value & Benefits of Umbrella Insurance
In addition to offering what is often an invaluable peace of mind (as protection against unforeseen and often catastrophic events), the following factors should be considered for those in the market for umbrella insurance –
If your home has a pool or you own a rental property, umbrella insurance offers extra insurance should someone become injured on your property. This would also apply should the insured be employed in a profession that faces larger liability risks – a business owner, doctor, etc.
Umbrella insurance pays for any potential damages the insured may be legally responsible for, but also the expenses should the insured become involved in a lawsuit.
Note that umbrella policies typically provide optional coverage amounts – typically available in increments of $1 million and more.
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The need for umbrella insurance varies based on your personal situation and objectives. For more information, Oklahoma residents should contact Insurance Source Solutions.