Definition
Umbrella insurance refers to liability insurance that is in excess of specified other policies and also potentially primary insurance for losses not covered by the other policies.
What is an 'Umbrella Insurance Policy'
An umbrella insurance policy is extra liability insurance coverage that goes beyond the limits of the insured's home, auto or watercraft insurance. It provides an additional layer of security to those who are at risk for being sued for damages to other people's property or injuries caused to others in an accident. It also protects against libel, vandalism, slander and invasion of privacy. An umbrella insurance policy is very helpful when the insurance owner is sued and the dollar limit of the original policy has been exhausted. The added coverage provided by liability insurance is most useful to individuals who own a lot of assets or very expensive assets and are at significant risk for being sued.
Explaining 'Umbrella Insurance Policy'
The premium for an umbrella insurance policy may be less expensive if the policy is purchased from the same insurer that provided the original auto, home or watercraft insurance. Depending on the provider, the policyholder who wants to add umbrella insurance policy is required to have a base insurance coverage of $150,000 to $250,000 for auto insurance and $250,000 to $300,000 for homeowners insurance.
Further Reading
Systems and methods for providing umbrella insurance policiespatents.google.com [PDF]… Finally, they found that health-related financial services such as insurance could help householders … each of its subtopics, we aim to carry out an umbrella review—a … economic policy, fiscal policy, financial crises, monetary policy, structural adjustment policies, natural resources …
The economics of capital regulation in financial conglomerateslink.springer.com [PDF]… Finally, they found that health-related financial services such as insurance could help householders … each of its subtopics, we aim to carry out an umbrella review—a … economic policy, fiscal policy, financial crises, monetary policy, structural adjustment policies, natural resources …
Are capital inflows to developing countries a vote for or against economic policy reformsbooks.google.com [PDF]… Finally, they found that health-related financial services such as insurance could help householders … each of its subtopics, we aim to carry out an umbrella review—a … economic policy, fiscal policy, financial crises, monetary policy, structural adjustment policies, natural resources …
The economics of public health: financing drug abuse treatment serviceswww.sciencedirect.com [PDF]… Finally, they found that health-related financial services such as insurance could help householders … each of its subtopics, we aim to carry out an umbrella review—a … economic policy, fiscal policy, financial crises, monetary policy, structural adjustment policies, natural resources …
The economics of social health insurancewww.elgaronline.com [PDF]… Finally, they found that health-related financial services such as insurance could help householders … each of its subtopics, we aim to carry out an umbrella review—a … economic policy, fiscal policy, financial crises, monetary policy, structural adjustment policies, natural resources …
Financial stability policies for shadow bankingpapers.ssrn.com [PDF]… Finally, they found that health-related financial services such as insurance could help householders … each of its subtopics, we aim to carry out an umbrella review—a … economic policy, fiscal policy, financial crises, monetary policy, structural adjustment policies, natural resources …
Construction risks: single versus portfolio insuranceascelibrary.org [PDF]… Finally, they found that health-related financial services such as insurance could help householders … each of its subtopics, we aim to carry out an umbrella review—a … economic policy, fiscal policy, financial crises, monetary policy, structural adjustment policies, natural resources …
An Insurance Model for the Protection of Corporations against the Bankruptcy of Suppliersspectrum.library.concordia.ca [PDF]… Finally, they found that health-related financial services such as insurance could help householders … each of its subtopics, we aim to carry out an umbrella review—a … economic policy, fiscal policy, financial crises, monetary policy, structural adjustment policies, natural resources …
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