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Umbrella liability insurance is coverage for an individual or company protecting them against claims not covered in their primary policies. Basically, umbrella liability insurance is extra liability coverage - it acts as a safeguard. Umbrella liability insurance got its name because it acts as an umbrella, sitting atop your current liability policies. Should you be sued for an amount that exceeds your policy, the umbrella liability insurance will kick in to cover damages. Umbrella liability insurance can usually be coordinated with your homeowner's and/or auto liability insurance policies; if you get all three from the same company, you may even receive a substantial premium discount. Umbrella liability insurance typically offers extremely broad coverage, but exceptions vary from insurer to insurer. |
