UMBRELLA LIABILITY INSURANCE
Understanding Personal Umbrella Liability Insurance
A personal umbrella liability policy is a broad form of liability coverage that protects you against large losses, or losses not covered by basic personal liability insurance. Issued with higher liability limits than basic liability coverage (a $1 million limit is common), an umbrella policy can be purchased as a stand-alone policy. More commonly, however, it is added using a rider to an existing homeowners or automobile insurance policy. If the insured is found legally responsible for injuring someone or for damaging property, then the umbrella policy will pay either that part of the claim in excess of the liability limits of the insured’s basic liability coverage or for certain losses not covered by basic personal liability insurance, including personal injury and unusual occurrences, up to the limits of the umbrella liability policy.
A typical umbrella liability policy provides the following
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