October 23, 2017
AgencyUmbrella – Underlying coverage
Umbrella insurance only works properly when the primary (underlying) coverages are maintained. In fact, the obligation to make sure proper support remains in place is part of the umbrella insurance contract. It is found in the policy’s “Maintenance of Underlying Coverage” provision. The provision typically refers to the policy’s schedule or declarations where all of the […]
July 4, 2017
AgencyUmbrella Coverage – Part 2
In part 2, we continue our discussion of how umbrella policies work. Umbrella vs. Excess Coverage A traditional umbrella offers broader protection, supplementing primary policies and handling a variety of other, less common losses. For instance, you may have to go to court after being accused of slandering another person. The liability section of your […]
July 4, 2017
AgencyUmbrella Coverage – Part 1
Let’s say you have a policy for your home and your family’s cars. You have just the right policy for the apartment you rent out to others as well as coverage for your boating excursions. Your homeowner’s policy even has a special, added protection for the business that your spouse runs out of your home. […]