Umbrella insurance refers to liability insurance coverage that is in addition to the liability insurance that you currently have on your home, automobile, or boat. Umbrella insurance is important to have in the event of a catastrophic liability claim or a massive liability judgment against you due to an accident or incident where you are found to be at fault. This type of additional liability insurance becomes activated when the limits on all of your other liability policies have been maxed out. Read on to learn more about the umbrella insurance policy options available to you from Steiner Insurance Group in Norman, OK.
What Umbrella Insurance Does and Does Not Cover?
Umbrella insurance typically covers you and your family from incidents involving personal injury to others, bodily injury to others, damage to the property of others, and landlord liability.
It can also help pay for a judgment against you for slander or libel and false imprisonment.
Umbrella insurance does not typically cover your personal belongings, losses sustained by your business, your acts that are found to be criminal, or any oral or written contracts with others that you may have.
Who Should Get Umbrella Insurance?
Certain risk factors increase your necessity of needing umbrella insurance. These include:
- Being a landlord and renting out your property to others
- Having household staff who work in your home
- Having a swimming pool
- Having a hot tub
- Having a trampoline
- Owning a dog
- Having an insured driver who is a teenager
- Holding large parties
Typical Umbrella Insurance Policy Limits
Umbrella Insurance policy limits are usually between $1,000,000.00 and $5,000,000.00.
Call Steiner Insurance Group today at 405-329-9780 or contact us at www.steinerig.com for a free Umbrella Insurance quote. Steiner Insurance Group serves both Norman, OK, and the surrounding Cleveland County, Oklahoma area.