Umbrella Insurance
Extra liability insurance that provides protection beyond the limits of your standard homeowners and auto policies.
Detailed Explanation
Umbrella policies typically offer $1 million to $5 million in additional liability coverage for a relatively low premium. They kick in when your primary policy limits are exhausted and may cover some situations excluded by your base policies.
Practical Example
When Mark was found liable for $750,000 after a guest was seriously injured falling from his deck due to a faulty railing, his $300,000 homeowners liability coverage wasn't enough, but his umbrella policy covered the remaining $450,000 judgment.
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