Liability Umbrella Policy

What you need to know about a Liability Umbrella Policy:

1. Coverage Extension: A Liability Umbrella Policy extends the liability coverage of your existing policies, such as your auto insurance, homeowners insurance, or boat insurance. If a claim exceeds the limits of those underlying policies, the umbrella policy kicks in to provide additional coverage.
2. Broader Coverage: Umbrella policies not only increase the coverage limit but also provide broader protection. They cover a range of liability situations, including bodily injury, property damage, personal injury, and legal defense costs.
3. High Liability Limits: Liability limits in umbrella policies are typically much higher than those in individual underlying policies. This can provide coverage in case of significant legal judgments or settlements.