Q: Personal Umbrella Insurance: A Simple Explanation!
Liability Coverage
Liability Limits
Umbrella's Role
A:
Liability Coverage - this is coverage for claims from people who sue you for injury or other harm.
Liability Limits - this is the dollar limit your policy will pay anyone who sues you.
Umbrella's Role - this is an excess layer of protection above what your policy limits would pay.
You asked for a simple explanation, so this very basic. But if you need to choose a policy, you'll want guidance on a more detailed level. You could consult with an insurance professional who could help you choose a policy that's best for your needs - based on your assets, risks you deal with, and your budget.
Good luck
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