Umbrella Insurance is a contract between you and your Insurance Company. It can provide additional Liability coverages beyond that provided in your other policies (Home, Auto, Boat, etc). In exchange for your premium payment, your Insurance Company agrees to pay losses as defined in your policy.
Most Umbrella Insurance policies require that the underlying policies have a minimum liability limit (typically $500,000 per occurrence). The Umbrella policy then acts as additional coverage over the underlying in the event of a covered loss.
A variety of limits may be available. Your Insurance Agent can help you determine what limits and coverages are most appropriate for your individual situation.
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