What is Umbrella Insurance?
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.
When an insured is liable to someone, the insured's primary insurance policies pay up to their limits and any additional amount is paid by the umbrella policy up to the limit of the umbrella policy.
As a rule of thumb, you should carry liability coverage at least equal to your net worth. If your net worth is $1,000,000, then you should have liability coverage protection for at least that amount for anything you own that floats on the water, have wheels and/or roofs. Keep in mind that coverage does not stack. If you have $500,000 Bodily Injury coverage on your auto(s) and $500,000 Family Liability coverage on your home(s), that does not equal $1,000,000 liability coverage, you would need to purchase a $500,000 personal umbrella liability policy to protect a net worth of $1,000,000.
Common Situations Protected by Umbrella Insurance:
2413 Lapis Rd.
Carlsbad, CA 92009
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