Umbrella Insurance

Even the most careful person with the best intentions can end up trapped in massive judgment from a personal liability lawsuit. While it is unlikely to find yourself in this situation, it's still worthwhile to cover yourself against such a crippling financial loss.

Umbrella insurance is personal liability insurance covering claims over regular auto insurance, homeowner's insurance, or watercraft insurance cover. Umbrella insurance covers injury to other people or damage caused to their property. Umbrella insurance cover does not cover the policyholder's possessions; it is relatively cheaper than Recreational Lines Insurance policies

Who Needs Umbrella Insurance?

Any person who has a liability policy such as home or vehicle insurance, for which he or she could be held liable for negligence, would be making a wise decision by considering additional umbrella coverage. A lie associated with the umbrella insurance policy is that it is a luxury that only the rich can afford. Umbrella insurance is affordable. The Insurance Information Institute says that one can purchase a personal liability policy of about $1 million for only a few hundred dollars a year. So, umbrella insurance coverage might be a wise purchase before the financial storm hits.

Some essential details you are most likely required to provide when inquiring about umbrella insurance are:

• Name, year of birth, marital status, sex, occupation, driver's license information.
• Accident and violation data for the last five years.
• Current insurance information and loss and claims for the past five years.
• List of other assets you own, including land, recreational automobiles, and rental property.
• List of aircraft, watercraft, and all automobiles you use for business purposes.
• List all the business activities transacted in your home as well as on your other property.

At Optima Financial Group of Texas, we have been covering our clients from life's uncertainties for many years. Visit us at our offices or contact us today to get advice regarding umbrella insurance protection. We will be happy to get you a quote.