Imagine this scenario: You are on your way to your Tulsa office when you get into a collision with another vehicle. This results in multiple injuries and significant damage to the other motorist’s vehicle. In situations like this, there is a high chance that your existing insurance coverage will not be able to cover all the losses and damages.
So, what happens when your auto, homeowners, or boat insurance policy is exhausted? You'll obviously be in a financial mess unless you have obtained Oklahoma umbrella insurance, also called excess liability insurance.
Umbrella Insurance in Oklahoma, Texas, & Missouri
Umbrella insurance offers you an additional layer of protection beyond what is provided by the limits of your standard policy. For example, if you face a lawsuit for causing someone injuries or damaging their property in an accident. It also protects you against other expensive claims such as slander, libel, and invasion of privacy. The umbrella policy kicks in once your current personal liability limits are reached.
You should be carrying a standard insurance policy before you can purchase umbrella insurance. Umbrella coverage can be added to the liability coverage provided on policies such as:
Anyone with assets that can be pursued in a lawsuit can buy umbrella insurance. You are at higher risk if you have a dog, a massive savings account, and a teenage driver, or if you own a house, boat, motorcycle, and business. Also, you can take out an umbrella policy if your activities put you at greater risk of lawsuits. For instance, if you have rental properties in Tulsa, if you are coaching sports at a children’s center, or if you are engaged in sports that can endanger others.
However, an umbrella policy will not cover your injuries or any damages to your personal property, any liability you assume under an agreement, and a deliberate action resulting in damages to others.
Avert a Financial Disaster with Tulsa Umbrella Insurance
Practically everyone needs an umbrella policy, including you. By having it in place, you shield your Oklahoma lifestyle against financial distress brought about by unexpected circumstances.
We are independent insurance agents serving customers in the Tulsa area. We can get you the right coverage you want at the right price.
Start protecting yourself, your family, your assets, and your financial future now. Contact us online for a fast quote.