Umbrella Insurance (formally known as Personal Excess Liability Insurance) is a type of liability coverage designed to protect your assets and future earnings from a catastrophic lawsuit or claim. It acts as an extra layer of financial security that sits above and beyond the liability limits of your existing primary insurance policies, such as your homeowners, auto, and boat insurance.
As the name suggests, it provides a large, broad protective shield when the financial damages from a liability claim exceed what your standard policies will cover.Umbrella insurance does not operate as primary coverage; it is triggered only after the limits of your underlying policies have been completely exhausted.
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