An Umbrella Policy provides coverage beyond the primary liability coverage limits.
Liability claims can escalate, and the repercussions of a loss can extend beyond what you may have initially imagined. As a result, the limits designated in your primary policy may or may not be enough to protect your organization’s assets due to a lawsuit.
If your underlying primary policies are unable to cover expenses associated with a loss, an umbrella policy can step in to help. As the name suggests, an umbrella policy provides an overarching layer of protection over your primary policy. Therefore, if you exhaust the limits of your primary policy, an umbrella policy can provide you with additional coverage to assist in fulfilling your financial obligations due to a loss.
* This is not a statement of contract and does not constitute a binder of insurance. Any coverage advertised herein is subject to the terms and conditions of the policy.