Sentences with phrase «umbrella liability coverage becomes»

Umbrella insurance is a secondary form of insurance, that requires a primary policy, or an underlying liability policy to first pay out on a claim before umbrella liability coverage becomes effective.

Not exact matches

Because umbrella insurance provides coverage once those limits are met, it's a good idea to become aware of your liability limits.

If, at the time of loss, the involved underlying policy does not meet the Umbrella policy required minimum liability limits, the difference between the required minimum limits and the actual coverage provided by the underlying policy becomes a «deductible» for the Umbrella policy.

Because umbrella insurance provides coverage once those limits are met, it's a good idea to become aware of your liability limits.

When the limits are reached on your primary liability coverage, your umbrella policy would become active and work on your behalf to meet your obligation.