How Umbrella Insurance Can Protect Your Investments

Life is unpredictable. No matter how well you plan, life can throw things at us which will set everything off track. You plan for your retirement. You have been careful to save responsibly and invest wisely. One unfortunate tragedy, however, can change all of that. If you are held liable in a serious accident, you might find your hard work and investments at total risk. If you want to protect your investments, our representatives at Freeland Insurance, serving Oklahoma City, OK, can help you understand more about umbrella insurance and how it can protect you. 

What is Umbrella Insurance?

Umbrella insurance is a type of insurance policy that can cover a number of different types of liability. You have auto insurance and homeowner’s insurance, but what if there is an event that exceeds the coverage limits on any one of these policies? What if you are sued? If you are not covered with an umbrella policy, then you personally will be held personally liable. This can mean financial devastation for most people. 

Who Benefits From Umbrella Insurance?

Anyone can benefit from an umbrella policy, but this type of insurance is most beneficial to individuals who have substantial investments and assets. Individuals with substantial investments must be conscientious about protecting themselves. Another factor to keep in mind is how much risk you are personally at for certain types of lawsuits. 

If you spend much time on the road, then you are more at risk for auto accidents. If your home is used as part of a business or there are many people often in your home you are more at risk for injuries on your property. Business owners are also at special risks having customers and employees coming and going. 

If you would like to learn more about umbrella insurance, please call our friendly staff at Freeland Insurance, serving Oklahoma City, OK today.