What is true about an umbrella policy?
Umbrella insurance is extra insurance that provides protection beyond existing limits and coverages of other policies. Umbrella insurance can provide coverage for injuries, property damage, certain lawsuits, and personal liability situations.
What is a personal umbrella policy?
A personal umbrella policy is called an "umbrella" policy because it provides liability coverage over and above your standard auto insurance or homeowners insurance. It offers protection for you and family in your household against large and potentially devastating liability claims or judgments.
What is the main purpose of an umbrella policy?
Umbrella liability coverage protects against the potential financial fallout of certain types of unforeseen events that lead to property damage or injury, for which the policyholder is held responsible.
What is an umbrella policy quizlet?
sometimes called catastrophe insurance, an umbrella policy provides excess coverage over the underlying or primary liability policy.