Umbrella insurance in Oklahoma
In order to feel that you are secure about protecting your future and your assets in Oklahoma, you may want an extra level of protection with an umbrella policy. If your liability limits are exhausted on your auto or home insurance, then umbrella insurance takes over and gives you extra protection. Umbrella insurance can also provide broad coverage to defend against things such as libel, slander, and defamation of character.
Why You Need Umbrella Insurance in Oklahoma
While it may seem that you have high limits on your current policies in Oklahoma, those limits can be low in the event of a large lawsuit award. If you cause an accident or someone is injured at your property, then you could lose millions of dollars in a lawsuit. The amount can grow higher if the injured party needs ongoing care. The money that you need to pay once your insurance limits are exhausted needs to come from selling your car or home or out of your future earnings. With an umbrella policy, you can protect your assets and your current lifestyle.
How Much Umbrella Insurance Do You Need?
There is no one right answer and the amount of insurance you need can be different from the amount a neighbor needs in Oklahoma. An agent at Vance Insurance Group LLC can help you determine what you need. Take stock of your risk. If you have an active lifestyle full of dangerous activities, such as competitive racing or speedboating, then you may need some more coverage. Also consider your assets. Every asset you have becomes a target during a lawsuit. Factor in your assets when you determine your worth and then double their value. This can give you an idea about how much umbrella insurance you need. Some lawsuits can even result in your future income being on the line. Take this into account as well. You may have a low-level job right now but your earning potential in the future can be significant.
Contact Vance Insurance Group LLC to get a quote on umbrella insurance.