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A Personal Umbrella Policy is a low-cost insurance policy that provides excess liability coverage above and beyond the limits of the liability coverage on your personal auto and homeowners policies. This additional coverage pays after you have exhausted your primary coverage if you are sued for damages suffered by someone as a result of an accident - especially an unexpected catastrophic accident - involving your car, property, or recreational activities. You're particularly exposed to the risk of an incident resulting in litigation if you have a swimming pool, have a student driver in the family, engage is high risk activities (jet skiing, Snowboarding, snow skiing, horseback riding, boating etc.). Even the game of Golf results in major lawsuits every year when someone is hit by an errant ball. As you accumulate assets (think home equity), you become a bigger target for lawsuits. If you lose a lawsuit and don't have enough liability insurance, your assets could be taken to satisfy the judgment. In addition, your assets probably include savings and investments. Even your future earnings can be garnished to satisfy a judgment against you. You can add Personal Umbrella coverage to take over where your auto and homeowners coverage ends. Annual premiums start as low as $200 a year for additional coverage of $1 million. Plans are available for coverage up to $10 million.

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โˆ™ 2006-09-07 02:09:52
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Q: What is a Personal Umbrella Policy and why would you want one?
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What is personal umbrella liability insurance?

So does that mean you cannot get an umbrella liability policy without having some primary coverage first? I am a landlord. Let's say I am not concerned about property damage or fire loss, just liability. Is there any type of insurance I can buy just for liability? _____________________________________________________________________________________________ In answer to your question, by its very nature, there has to be underlying coverage in order to have an unbrella policy. Otherwise, there is nothing for the umbrella to supplement. Different insurance companies have different underwriting requirements as to the amount of underlying coverage you much have to get an umbrella of a stated amount. Since you are a landlord, and presumably want coverage on the rental property, you may want to look into a Commercial General Liability insurance policy. It is a broad form of policy that covers an array of risks. Only a licensed insurance agent can advise you on what is best for your needs. However, since it is rental property, I do not understand why you would not want insurance on the property itself, such as fire insurance, unless the property is uninsurable. --Luke Brown


Is a car insurance umbrella necessary?

If you have unprotected assets, such as a summer home or investment accounts that are not part of an employer-sponsored retirement plan, you may want to consider an umbrella policy. Talk to your insurance agent. Most will require you to have the maximum amount of coverage before they will sell you an umbrella policy. The point of such a policy is to protect you in the event you are sued and the damages suffered by the plaintiff exceed your policy limit. If you have unprotected assets, such as a summer home or investment accounts that are not part of an employer-sponsored retirement plan, you may want to consider an umbrella policy. Talk to your insurance agent. Most will require you to have the maximum amount of coverage before they will sell you an umbrella policy. The point of such a policy is to protect you in the event you are sued and the damages suffered by the plaintiff exceed your policy limit.


What is the cost of one million dollar construction insurance policy?

A one million dollar general liability policy should be about $700.00 - $800.00 annualy if it's written correctly. If you are asking about a Personal Liability Umbrella, the cost may be closer to $200 annual depending on what state you live in and what you want covered under the umbrella, and if your cars it also takes into consideration the driving histories.


What is the best umbrella on the market?

An umbrella is an umbrella. They all work the same way. You may want to get an umbrella that has a design that you like. Even a basic plain umbrella would work great for keeping the rain off of your head.


What if Medical costs exceeds 300K for one person in a car accident?

If your policy limit is 300k then the insurance company will pay them that portion and you will be liable for the rest. If you really want to cover yourself for more than those limits, I would purchase an umbrella type policy that covers over the policy limits.


Does a deck gazebo provide good shade like a patio umbrella?

That would depend on how much shade you want. Do you want enough shade that your family and a few guests can enjoy it, or will you want to chase the shade of an umbrella all around the patio? A gazebo would be better if you want the shade to be in a more stable position.


Get a sentence for open door policy?

Having an open door policy is inviting but can also be dangerous. This policy can be dangerous because a person could hear personal issues that they do not want to be a part of.


Can you get a patio umbrella that doesnt attach to a table?

I do believe you can find a patio umbrella that doesn't attach to a table. A good place to start looking would be your local discount store like Walmart. Where you place a patio umbrella has more to do with the umbrella base or stand than it does the table. A table does help to stabilize the umbrella but it is not necessary. By getting a heavier umbrella stand or even a rolling umbrella stand you can place your outdoor umbrella any where you want to.


You want to know email of tamer hosny?

It is WikiAnswers policy not to give out personal celebritity contact information


Can an umbrella cockatoo eat chocolate?

sometimes yes and there are some times when an umbrella cockatoo can't eat chocolate.[if you want to know more about umbrella cockatoo's go to animal planet.com/umbrella cockatoo's]


Do you want to come shopping for umbrella covers?

I don't really want to come see umbrella covers, but I could recommend a few good companies that make good ones. A great site is www.epatioumbrellas.com has cheap umbrella covers


Can a passenger of a car claim if he was wearing no setbelt?

He and/or the driver can be ticketed for not wearing a seatbelt but coverage still applies. Typically the insurance policy contains no such exclusion of coverage for passengers who refuse to wear a seatbelt. You would not want the exclusion on your policy otherwise your passenger's attorney would have no other recourse than to come after your personal assets.


When a surviving spouse is attending the office to sign papers after the funeral should you package the personal belongings of their spouse for them or leave the workspace as is?

You should speak with the spouse before they come in and ask them if they want you to pack the personal belongings or if they would rather do it in person. A quick, "Would you like me to pack up William's personal belongings for you?", would be appropriate.You should speak with the spouse before they come in and ask them if they want you to pack the personal belongings or if they would rather do it in person. A quick, "Would you like me to pack up William's personal belongings for you?", would be appropriate.You should speak with the spouse before they come in and ask them if they want you to pack the personal belongings or if they would rather do it in person. A quick, "Would you like me to pack up William's personal belongings for you?", would be appropriate.You should speak with the spouse before they come in and ask them if they want you to pack the personal belongings or if they would rather do it in person. A quick, "Would you like me to pack up William's personal belongings for you?", would be appropriate.


Want to know if your policy payment was received?

I would check with your agent or the company.


How tall should a patio umbrella be?

The average height of a patio umbrella is eight feet tall. However, you may want to buy and install a patio umbrella which is higher than eight feet tall. The taller the umbrella, the more shade it will create.


When do I need to put commercial insurance on a vehicle that is being used to pull a trailor?

You might. If the trailer is used for just personal use then your personal auto would extend the liability coverage from your vehicle. If you want it covered for theft or collision. You would need to have comp and coll coverage on it. If you use the trailer for business use then that's when your vehicle and the trailer would need a commercial policy.


Why does the white umbrella symbolize American culture?

It represents American culture because it stands as a luxury item,(according to her mother). Since all americans "want, want, want", and the narrorator wants the umbrella, it ties in with American culture.


If you didn't want to carry an insurance policy what is the financial responsibility you would need to have?

none


Where can I purchase patio umbrella replacement material?

Fortunately, it is possible to purchase umbrella replacement fabric in order to repair your umbrella. It may be difficult to find an exact match, but you can try places such as mjsales, or umbrella-replacement to try and match the fabric. You might also want to consider completely replacing the damaged umbrella with a new one.


You want to view my policy?

Do you have some question about your policy?


Can navy seaman look up personal records of American citizens?

no... why would they want to


What is Michael Collins home address?

That's his personal information. Why would you want to know that?


How much is condo insurance in Michigan?

Read your governing documents to determine the coverage that should be available to you from the association's master policy. Then, determine how much of your personal property you want to cover. Your personal coverage in a condominium is called an HO-6 policy, and may also include assessment protection in case of a disaster. Ask your board to help you work through the kind of individual policy you need, and to educate you about coverage actually contained in the master policy.


How much is condo insurance in Chicago?

Read your governing documents to determine the coverage that should be available to you from the association's master policy. Then, determine how much of your personal property you want to cover. Your personal coverage in a condominium is called an HO-6 policy, and may also include assessment protection in case of a disaster. Ask your board to help you work through the kind of individual policy you need, and to educate you about coverage actually contained in the master policy.


If your primary vehicle is a corporate car supplied by your work do you need personal auto insurance ie does the company policy cover you only when driving that car or on all vehicles?

I would assume that the company policy only covers the company car. You still need at least liability coverage for any other car that you own and want to drive. If by chance you don't own another vehicle I can still think of reasons that you might want a non-owners policy. This would protect you in the event that you drive someone else's vehicle that is uninsured and you cause an accident.