Umbrella Liability Insurance
What is it? Your home and auto policies both provide liability coverage -- insurance that pays other people if youre responsible for injuring them or damaging their property. Umbrella liability is extra coverage -- a policy that pays for liability losses in excess of those covered in homeowners and auto insurance. A $1 million umbrella policy can increase your total liability protection from say, $300,000, to $1.3 million. It also covers risks not insured in auto and homeowners policies -- like slander, invasion of privacy, and liability for property that you dont own while its in your care. Umbrella coverage would pay, for example, if you hurt somebody while driving a motor boat that didnt belong to you.Added By: Nicole
The Umbrella Liability Insurance definition has been viewed 476 Time(s)!
Send To Friends!
If you'd like to send the Umbrella Liability Insurance definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of Umbrella Liability Insurance. If you need any more information on this term, please don't hesitate to contact us.