Sentences with phrase «meaning of umbrella insurance»

So, if you don't understand the meaning of umbrella insurance, you are alone.

Not exact matches

It means that if you are involved in an accident in which you are at fault, and your liability limits of your auto insurance don't satisfy the legal settlement, umbrella insurance covers you up to a much larger amount.

Umbrella Insurance (Excess Liability): Umbrella insurance coverage is a means to increase the liability of existing insurance policies by paying a singleInsurance (Excess Liability): Umbrella insurance coverage is a means to increase the liability of existing insurance policies by paying a singleinsurance coverage is a means to increase the liability of existing insurance policies by paying a singleinsurance policies by paying a single Premium.

Commercial umbrella insurance provides an affordable layer of excess liability insurance for your business above the limits provided by standard business liability policies and could mean the difference between staying in business or becoming a lawsuit casualty in situations like this:

That means that you can exhaust the liability limits of your car insurance, use $ 100,000 of the umbrella policy to settle the outstanding medical and property damage claims, and still have coverage remaining to apply to home or auto liability in other cases.

If you cause bodily damage to another person in a car accident, for example, and your auto policy covers only a certain amount of the medical expenses, the umbrella insurance covers the rest — meaning you don't have to take out a second mortgage on your home to make up the difference.