| Misunderstood Personal Lines Issues (Part 2) | |||
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The Umbrella / Excess Liability difference The question What is the difference between Excess Liability and Umbrella coverage? The answer The major difference is that the personal Umbrella provides broad excess liability coverage and may extend to areas that are not covered by the underlying policy. It can provide high limits for the insured. So an Umbrella policy may provide coverage for areas that were not even covered by the underlying policy. On the other hand, Excess Liability coverage is typically not broader than the underlying policy. Excess Liability and Umbrella coverages are not standardized, unlike the underlying coverage forms, so their similarities and differences may vary from company to company. Cost may be one of the differences between the two types of coverage. |
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Not only are policy forms, clauses, rules and court decisions constantly changing, but forms vary from company to company and state to state. This material is intended as a general guideline and might not apply to a specific situation. The authors, LunchTimeCE, Inc., CEfreedom, and Insurance Skills Center, and any organization for whom this course is administered will have neither liability nor responsibility to any person or entity with respect to any loss or damage alleged to be caused directly or indirectly as a result of information contained in this course.
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