Sentences with phrase «underlying liability policy»

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.

An umbrella policy can help when the costs of a claim surpass the limit of your underlying liability policy.

It's an additional layer of liability insurance that begins at the limit of an underlying liability policy.

It begins when the limits of an underlying liability policy are reached, and can be purchased in $ 1 million increments up to $ 10 million.

Commercial umbrella is excess liability insurance that kicks in after the underlying liability policies have been exhausted.

Not exact matches

That's what protects you if a liability claim causes a larger loss than the underlying renters insurance policy will cover.

An insurance policy that helps cover a person for liabilities that either may exceed the limits on the residential or vehicle insurance policy or may cover risks not covered by the underlying policy.

A personal umbrella policy offers liability coverage beyond the limits of an underlying policy, like car insurance or homeowners insurance.

If a judgment against you exceeds the liability limits of an underlying policy, such as auto or homeowners insurance, a personal umbrella policy may help provide an additional layer of coverage.

This policy can also cover liability protection for auto accidents with the minimum underlying auto limits.

Personal umbrella coverage comes into play when your underlying liability limits (such as from a homeowners or auto insurance policy) have been reached.

If the liability limits are exhausted on your home, auto, or other underlying insurance policy, your umbrella insurance policy takes over and provides you with additional protection.

The greater the underlying liability coverage you have, the cheaper the umbrella or excess policy.

To write an umbrella or excess policy, most companies will require a minimum of $ 300,000 underlying liability insurance on your standard homeowners policy.

However, Mr. Kraft, the plaintiff in the underlying action, argued that the allegations of liability against Mr. Kelley fell within the policy's scope of coverage because the word «use» in the motorized vehicle exclusion should be construed as meaning «some measure of operational control over» a motorized vehicle, in this case the ATV.

In these rare instances, the underlying public policy initiatives prohibit the defendant from escaping liability by shifting the blame at another wrongdoer.

Obtaining coverage on summary judgment for a utility as an «additional insured» under a contractor's general liability policy in connection with underlying wrongful death claims.

Excess liability policies are generally intended to provide limits that exceed the underlying policy, but there may be exclusions that mean the policy is not as broad as the Law Society program policy.

Excess liability insurance is intended to provide additional limits over that provided by the underlying (primary) liability policy.

This policy can also cover liability protection for auto accidents with the minimum underlying auto limits.

Many business owners decide to invest in an umbrella liability policy, which provides additional liability protection over and above the basis underlying policy limits.

The umbrella policy sits over the top of underlying insurance policies and provides an extra layer of liability insurance.

In order to be eligible for an umbrella policy, insurance companies may require you to purchase and maintain certain minimum underlying liability limits on your primary policies.

Umbrella insurance is a liability only insurance policy which provides insurance in excess of your underlying insurance coverages (such as auto insurance, home insurance, boat insurance, etc).

If you're considering a personal liability umbrella, you should know that insurance companies typically require that you maintain a certain level of underlying coverage on your existing home and auto policies in order to qualify.

An umbrella policy kicks in when you reach the limit on the underlying liability coverage provided by your renters or auto policy.

Commercial Umbrella Insurance provides an additional layer of liability insurance, (Bodily Injury and Property Damage), over and above existing business liability policies, also known as underlying policies.

An umbrella policy kicks in when you reach the limit on the underlying liability coverage in an auto, homeowners, renters or co-op / condo policy.

An umbrella policy can help with liabilities that exceed the limits of your underlying commercial auto policy.

The greater the underlying liability coverage you have, the cheaper the umbrella or excess policy.

In fact, many insurance companies won't sell you an umbrella policy unless you already carry a certain amount of basic liability coverage - generally $ 300,000 of underlying coverage on your homeowners insurance policy and $ 250,000 of underlying coverage on your auto insurance policy.

Because the personal umbrella policy pays out after the underlying coverage is exhausted, most insurers will want you to have about $ 250,000 of liability insurance on your auto policy and $ 300,000 of liability insurance on your homeowners policy before they will sell you an umbrella policy.

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.

The cost of umbrella coverage depends on how much liability coverage you carry on your basic homeowners policy, often referred to as «underlying coverage.»

These policies start to pay after you have used up the liability insurance in your underlying policy.

If the liability limits are exhausted on your homeowner insurance, auto insurance, or other underlying insurance policy, your umbrella insurance policy takes over and provides you with additional protection.

If a judgment against you exceeds the liability limits of an underlying policy, such as auto or homeowners insurance, a personal umbrella policy may help provide an additional layer of coverage.

An insurance policy that helps cover a person for liabilities that either may exceed the limits on the residential or vehicle insurance policy or may cover risks not covered by the underlying policy.

An umbrella policy kicks in when you reach the limit on the underlying liability coverage in a homeowners, renters, condo or auto policy.

Even though your underlying policies (like auto, homeowners, or pleasure craft insurance) may provide substantial liability limits, it may not be enough.

Umbrella policies provide additional liability coverage (starting at $ 1M) over and above your underlying auto, home and watercraft policy limits.

Even though your underlying policies may provide substantial liability limits, it is not uncommon today for juries to award damages that exceed those limits.

Though your underlying insurance policies (like auto, homeowners, or pleasure craft) may provide substantial insurance liability limits, those limits may not be enough to protect you from personal exposure or financial disaster in all cases.

Personal excess liability insurance (or «umbrella» insurance) kicks in after the liability limits in an underlying policy (homeowners, auto, etc.) are depleted.

The injured person could file a claim against you for an amount in excess of the underlying liability limits of your pleasure craft insurance policy.

An umbrella policy typically kicks in once you've reached the liability limits on an underlying policy, such as homeowners or auto insurance.

Or, you might feel more comfortable with a personal umbrella policy, a separate policy that kicks in once the liability limits on your underlying homeowners insurance have been exhausted.

Umbrella insurance works in conjunction with your auto and / or homeowners insurance policy to provide additional liability coverage if you happen to exceed the limit of the underlying policy.

Personal umbrella coverage comes into play when your underlying liability limits (such as from a homeowners or auto insurance policy) have been reached.

There are minimum liability limits that must be maintained on your underlying policies if you have an umbrella.