Umbrella Coverage Quote Forms
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Umbrella Coverage Information
Personal insurance policies will almost always contain liability coverage. Still, there is a chance that a liability claim will exceed your policy limits. Rather than having to pay the remaining costs out of pocket, you may have a
solution available if you have personal umbrella insurance.
Garrison Agency helps Oklahoma residents find quality insurance solutions for all their needs. If you want umbrella coverage at affordable rates, you can trust us to help you find it. Contact us at 580-338-5561 or request a quote now.
What is Umbrella Insurance?
If you have liability insurance, you’ll have coverage when you are required to pay for the problems you have caused others (e.g., property damage or bodily injuries). However, a liability policy will have limits. Should a claim exceed these limits, you may be able to turn to an umbrella policy for additional coverage. Umbrella insurance offers extra financial assistance if a claim exceeds the value of a standard liability policy.
How Does an Umbrella Policy Work?
When you have personal insurance (e.g., auto insurance, homeowners insurance, renters insurance), an umbrella plan may provide additional coverage on top of the liability insurance within these policies.
Suppose that a neighbor falls on your front walk and sues you for $750,000 in medical bills, lost wages and other costs. To cover the costs, you may be able to file for assistance against your homeowners liability insurance. But suppose your homeowners policy will pay only up to $500,000 for the claim—which is your policy limit. That’s a $250,000 gap between what your standard plan will pay and what you may owe your neighbor.
At this time, umbrella coverage may be able to step in. An umbrella policy may be able to help you cover the additional $250,000 that exceeds your standard policy’s limit. Your standard coverage will still pay the initial $500,000, and you can file on your umbrella policy for the remaining $250,000.
Why Do I Need Umbrella Insurance?
Umbrella coverage can offer a better level of security in case of expensive personal liability claims. Even when you have liability insurance, you never know if a claim will exceed the policy’s limits. Umbrella insurance can better enable you to pay the costs you owe others without facing an excessive personal financial loss.
Additionally, some umbrella policies will cover liabilities that a standard policy may not cover at all. If you find that a standard plan will not cover a specific loss, you may be able to turn to your umbrella policy for that coverage. Be sure to talk to an agent today to learn more about what liabilities may be covered under an umbrella policy.
What Does Umbrella Insurance Cost?
Most umbrella policies are very affordable. Your Garrison Agency team will work with you to ensure that your policy offers you personalized protection while still fitting into your budget. Plus, an umbrella plan may apply to multiple personal policies at once. So, an investment in a single policy may get you extra protection across numerous other policies.
Contact Us Today
Garrison Agency is ready to help you get the umbrella insurance that is right for you. Contact us today and we’ll make sure you are on your way to personalized coverage in no time.
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