Umbrella insurance may help protect you against the cost of having to make multiple claims against a single insurance policy. For example, you might purchase insurance that covers your home against fire but also covers your furniture against fire, as well as your carpets against theft. To get expert advice in Oklahoma City, OK and surrounding cities, call the team at Hexis Insurance.
What Does Umbrella Insurance Entail
An umbrella policy will cover you in the event that any of your covered risks causes a loss. Most policies will cover a certain amount of money for each risk, and if one of your covered risks causes a loss, your insurance company will help you pay for the loss from the other covered risks. This can help protect you if one of your covered risks causes a loss by increasing the amount of money you have to pay for the loss.
The umbrella insurance can protect you against many different types of risks, including things like loss of income, liability, medical bills, property damage, and more. Most umbrella policies have limits on what they will cover, so make sure you know what yours cover and what it doesn’t.
A primary insurance policy provides coverage for a single event, such as a car accident or fire. An umbrella policy fills in as a backup when the primary insurance policy does not cover something. The most common types of umbrella policies are property, liability, and medical. Oftentimes, you can find a cheaper umbrella policy than the one you have now.
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Umbrella policies can help protect you in case of a loss from another cover. For instance, if you have a boat, the policy covers beyond your watercraft’s liability cover. Umbrella insurance can also cater liability claims not covered by policies such as false imprisonment, slander, and libel. For assistance in the greater Oklahoma City OK community, call Hexis Insurance.