[et_pb_section fb_built="1" _builder_version="4.0.9"][et_pb_row _builder_version="4.0.9" custom_margin="|108px||auto||"][et_pb_column type="4_4" _builder_version="4.0.9"][et_pb_text _builder_version="4.0.9" hover_enabled="0"]<h1 style="text-align: center;"><span style="color: #0a0a0a;"><strong>What is an umbrella liability policy?</strong></span></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version="4.0.9"][et_pb_column type="4_4" _builder_version="4.0.9"][et_pb_text _builder_version="4.0.9" hover_enabled="0"]<div align="center">
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<p><span style="color: #050505;">Your standard auto insurance or homeowners insurance will provide you with some liability coverage. If you are sued, those policies will pay up to your policy limits for legal judgments against you, as well as the related attorney's fees.</span></p>
<p><span style="color: #050505;">However, in our litigious society when a lawsuit settlement could very well wipe out your financial assets, you may want the extra protection for your assets that a personal umbrella liability policy provides.</span></p>
<p><span style="color: #050505;">An umbrella policy kicks in when you reach the limit on the underlying liability coverage in an auto, homeowners, renters or co-op / condo policy. It will also cover you for additional types of claims, such as libel and slander.</span></p>
<p><span style="color: #050505;">Because the personal umbrella policy pays out after the underlying coverage is exhausted, most insurers will want you to have about $250,000 of liability insurance on your auto policy and $300,000 of liability insurance on your homeowners policy before they will sell you an umbrella policy.</span></p>
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<div align="center" style="text-align: justify;"><span><span style="color: #000000;">To read the full article, </span><a href="https://www.iii.org/article/what-umbrella-liability">click here</a></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]