How Umbrella Insurance Works
Chances are slim that you will lose a lawsuit for a sum greater than what your existing insurance will pay—but if you ever did find yourself in that situation, you could lose all your savings. Umbrella insurance is designed to make sure you never find yourself living that nightmare. Below, we'll take a closer look at this extra liability coverage: how an umbrella policy works, who needs it, how much it costs and what it won’t cover.
Original Article Source Credits: Investopedia , https://www.investopedia.com/
Article Written By: AMY FONTINELLE
Original Article Posted on: Apr 20, 2020
Link to Original Article: https://www.investopedia.com/articles/personal-finance/040115/how-umbrella-insurance-works.asp