You have paid the insurance company your premiums so that they will pay for larger claims when they do occur. (investopedia.com)
You may prefer to reserve your homeowners policy for making larger claims instead of paying the deductible for smaller claims, such as your child's laptop getting stolen in the dorm. (nationwide.com)
A commercial umbrella policy is a form of extra protection against very large claims against a business. (usinsuranceagents.com)