Definition
Umbrella limits extend beyond homeowners coverage. They apply after homeowners policy limits are exhausted, providing comprehensive liability protection.
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Umbrella policies extend liability coverage beyond homeowners policy limits, typically from $1 million to $5 million. Umbrella coverage applies after homeowners policy limits are exhausted. Policies are inexpensive relative to coverage provided. Recommended for high-net-worth individuals or those with significant liability exposure.
Pro Tip
Umbrella policies are affordable. Consider coverage equal to net worth.
Example
A $1 million umbrella policy extends liability coverage after homeowners policy $500,000 limit is exhausted.