Liability Insurance indemnifies others for your negligence.
Liability insurance is designed to offer specific protection against third party insurance claims, i.e., payment is made to someone suffering loss that you caused. A Homeowners policy includes this essential coverage. It also provides for payment of defense on your behalf.
Generally, damage caused intentionally as well as contractual liability are not covered under liability insurance policies. When a claim is made, the insurance carrier has the duty (and right) to defend the insured. The legal costs of a defense normally do not affect policy limits unless the policy expressly states otherwise; this default rule is useful because defense costs tend to soar when cases go to trial.
Umbrella Liability Insurance
Umbrella Liability provides another layer of protection.
An Umbrella Liability policy is an additional amount of liability coverage over your primary Homeowners, Auto and other Personal Liability policies should those limits be exhausted.
Limits are generally issued in $1 million increments.
Who needs an Umbrella Liability?
Everyone should consider an Umbrella policy, especially if you have young drivers, a swimming pool, a dog or considerable assets to protect.
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