Our umbrella policy helps cover excess liability for you, your spouse and other financial dependents. Here are some examples where umbrella coverage could help protect your assets and wages. Accidents With a Vehicle The young driver in your family makes a left turn across traffic and causes a co...
As you might have gleaned from these examples, umbrella insurance covers not just the policyholder, but also other members of their family or household. So if your teenager isn’t the best driver, you can sleep better at night knowing your umbrella policy will cover the injured parties’ medi...
policy first. When the umbrella policy acts as the primary policy, you may be responsible for a self-insured retention (SIR) fee that must be paid for the umbrella policy to become operational. Some examples of when your umbrella insurance might not have underlying coverage from another policy...
If you're not yet convinced about getting an umbrella policy, here are some more reasons why you might want to get one. If you have an umbrella policy, these reasons should encourage you to update your umbrella policy coverage amount as well. 1) You have a teenager An umbrella policy cov...
Umbrella insurance, also called excess liability coverage, is a separate insurance policy that acts as a liability “umbrella” that provides extra coverage protection for your business, auto, home, motorcycle, and boat policies. It’s a liability-only policy, meaning it can help cover costs if...
The meaning of UMBRELLA is a collapsible shade for protection against weather consisting of fabric stretched over hinged ribs radiating from a central pole; especially : a small one for carrying in the hand. How to use umbrella in a sentence.
Umbrella Coverage Limits Commercial umbrellas are sold in $1 million increments.1Some businesses may need an umbrella with a $1 million limit while others may require a $5 million, $10 million, or even a $100 million policy. Like primary liability policies, an umbrella includes a per occurren...
Discover how an umbrella insurance policy offers essential additional coverage in our litigious society, safeguarding against potential financial vulnerabilities that may exceed the limits of your existing policies. Learn about its importance, when to consider it, and how to find the right policy to pr...
Examples of Umbrella/Excess Liability Insurance in a sentence Umbrella/Excess Liability Insurance shall be provided to apply in excess of the Commercial General Liability, Employers Liability and the Motor Vehicle coverage enumerated above, for each occurrence and for aggregate in the amount of $1,000...
Umbrella Insurance Policy | Overview & Coverage from Chapter 8 / Lesson 3 20K Explore umbrella insurance policies. Learn the definition of an umbrella policy and understand who needs it. Discover what an umbrella insurance policy covers. Related...