A personal umbrella policy is just what is says – “an umbrella” that protects you from an unfortunate event that could happen in which you are held liable, or responsible. Your homeowners, auto and watercraft policies all carry limits for claims for bodily injury and property damage claims. What if these limits are not sufficient to cover an award by a judge or a jury for lawsuit as a result of a car accident in which three people were hurt?
A personal umbrella (or excess liability)policy picks up where the limits of your home/auto/watercraft policies are exhausted. The cost is very low, but the effects can be priceless in the event of a loss.
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