Umbrella Insurance in Oklahoma
Insurance serves two main purposes as a financial tool. You pay a known expense, call that premium, to transfer the risk of an unknown loss, call that a claim, in effect, budgeting your future losses. Secondly, you can avoid financially catastrophic losses by purchasing insurance.
The umbrella policy primarily covers catastrophic liability losses in excess of your homeowner's or family automobile coverage. The umbrella carriers tend to ask for higher limits of liability within your homeowner's and auto policies, and then provide layers of one million dollars over those limits.
We offer on-line pricing for homeowner's and automobile so you can find how little higher limits might cost. The independent and professional agents at Freeland Insurance are available by phone too; call us for recommendations on your personal policies including the umbrella.
The umbrella policy provides broader coverage than the homeowner's and automobile. For example, the family auto policy does not cover driving in Mexico, but the umbrella liability policy covers your driving worldwide.
When the umbrella policy covers that Mexico automobile claim, rather than the family auto paying the first part of the claim, you pay a retention, similar to a deductible, and the umbrella policy pays the rest of the claim.
For any liability claim, the umbrella pays for legal counsel, even in foreign countries.
The umbrella policy extends the homeowner's coverage to include rented watercraft worldwide, so you can take that jet ski excursion in Greece without worrying about the liability.
Call us with your personal insurance questions in Oklahoma. We happily describe coverage, policy options or discuss your individual needs. We can explain different ways to protect your hard-earned assets like your home, business or investments from liability claims, in Oklahoma or wherever you may travel. We stand ready to serve you.