Umbrella Liability Insurance
An umbrella liability insurance policy is generally pure liability coverage over and above the coverage afforded on a home owners, auto or commercial general liability insurance policy. The word umbrella describes how the policy works in that the policy covers a wide array of liability risks. The coverage is generally for a larger limit and is broader than the other liability policies previously mentioned. In general, an umbrella policy will cover claims that not be covered elsewhere like: - Libel and Slander
- False Arrest
- Defamation of Character
- Coverage for volunteer activity
- Invasion of Privacy
- An accident with an uninsured motorist
- Coverage is extended to other properties
- Coverage extends worldwide
These policies are not expensive at all with premiums of only $200-300 per year.
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Note: Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. This insurance information is general in nature and the policy wordings always take precedence. Make sure you review the "please read" page. |
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