Many of us work hard and save our money to allow us to spend our retirement focused on family, hobbies, and other activities without worrying about money. For many, an underappreciated means of protecting yourself and eliminating money worries is to obtain umbrella insurance to cover your accumulated assets. Whether you are retired today or plan to be in the future, the Insurance Source Solutions team, serving Oklahoma residents, will help you understand the benefits of umbrella insurance for people of all ages.
How Umbrella Insurance Benefits Retirees
We buy insurance to protect ourselves against the unexpected. We know accidents can happen regardless of how careful we are, potentially leaving us liable for damages. Although our home and auto policies cover us in most cases, the damage and our liability can sometimes exceed the limits of our policies. While rare, you must pay the difference between the policy limits and the total damages in those situations, putting your savings, home, and other assets at risk.
Such situations are a problem at any age but are worse for retirees with accumulated assets who are past their peak earning years, making it difficult to rebuild their assets. Umbrella insurance solves the problem by sitting atop your other policies and paying out only when you exceed their limits. The low number of umbrella insurance claims means Oklahomans pay an average of $150 to $300 per year for $1 million in umbrella coverage while gaining peace of mind from the added protection.
Working With Insurance Source Solutions
Umbrella insurance is a low-cost way to protect your family and assets. If you live in Oklahoma, stop in today or call the Insurance Source Solutions team at (405) 348-5475 to discuss how umbrella insurance can benefit you.
