Umbrella Insurance: Do You Need It?
Money Talk
DECEMBER 8, 2021
Like an umbrella that covers your head to protect you from a rainstorm, an umbrella liability policy “covers” your other property insurance, thereby providing additional protection. Policy benefits start where other polices end. For example, after claims exceed $300,000 of liability coverage on an underlying auto or homeowners policy. Umbrella policies provide coverage for $1 million, or million-dollar increments above a policyholder's underlying auto, boat, and/or homeowners/renters insurance l
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