We all say things we regret at one time or another. But, did you know that if you are sued for defamation, slander, or libel, your homeowner’s insurance policy doesn’t cover you? That means if you are sued, even if the suit is dismissed, you will be out fees for your defense, and you could lose your home, business, and other assets if you lose? That may sound like far-fetched, but today’s society has been leaning toward big lawsuits. Consider what would happen if you posted a negative comment about someone online or wrote an unfavorable online review of an Oklahoma City, OK business and you’re sued as a result. Here’s what you need to know, from the experts at  Freeland Insurance. 

Does Your Insurance Policy Cover Defamation, Libel Or Slander? 

What if you’re sued for something you say or something you write? Umbrella insurance can provide the liability protection that your homeowners insurance doesn’t, to help pay for expenses, such as if you’re sued for alleged libel, defamation, or slander.  That’s where personal umbrella insurance could help. 

What Is A Personal Umbrella Policy? 

A personal umbrella policy gives you an added layer of liability protection over your other insurance policies, such as auto, business, or Oklahoma City, OK homeowners. Umbrella insurance may help cover costs that mount to defend yourself against a claim in court and can help pay if a legal settlement is made against you. The coverage kicks in after you’ve reached the maximum limits on your underlying policy. In cases like as a defamation, libel, or slander lawsuit, it can offer liability coverage for situations that aren’t covered by other types of insurance. 

What Isn’t Covered Under A Personal Umbrella Policy? 

While umbrella insurance may help you avoid paying a settlement out of pocket if you face a legal judgment for slander, libel, or defamation, there are some common exclusions: 

• Your policy wasn’t in force at the time you said or wrote the comment 
• The alleged defaming, libelous, or slanderous comment is related to a business you own 
• You intentionally made a false comment or statement 

While nobody expects to face an accusation of defamation, libel, or slander, mistakes do happen and the fallout can be costly. Call Freeland Insurance today to find out if an umbrella policy may help you protect your assets and give you peace of mind.