No one wants to think that they’ll ever be sued for an injury that occurs on their property, but if you’re a homeowner, unexpected things can happen. Having the right insurance in the event of a lawsuit can help protect your savings and other assets. At Steiner Insurance Group servicing Norman, OK, we help our clients determine when they could benefit from umbrella insurance. If you decide that an umbrella insurance policy is right for you, we can work with our insurance carrier partners to help you find the right policy for your needs.
What Is Umbrella Insurance?
Umbrella insurance provides liability coverage that kicks in if your home insurance liability coverage is exhausted in a lawsuit. If you are found liable for an injury that occurs on your property, your home insurance may provide liability coverage to pay for legal fees and other related expenses. If the lawsuit exceeds your home insurance coverage, then your umbrella insurance will provide additional coverage.
How Is Umbrella Insurance Different From Home Insurance?
Umbrella insurance only provides additional personal liability coverage. This is different from home insurance in several ways. Home insurance provides coverage for your personal belongings, dwelling, and other structures on your property. Umbrella insurance doesn’t provide any coverage for your personal belongings or dwelling and other structures. Umbrella insurance only provides additional personal liability coverage if your home insurance policy liability coverage is exceeded in a lawsuit.
Who Needs Umbrella Insurance?
You may benefit from umbrella insurance if you have many assets to protect, or if you are at special risk of being sued. Your insurance agent at Steiner Insurance Group servicing Norman, OK can help you determine if umbrella insurance is right for you. Call today to speak with one of our insurance professionals.
