A Personal Umbrella (PU) policy in this case extends the basic coverage provided in different types of liability coverage, including home, auto, boat and tenant policies, and stretches it to include whatever coverage you deem necessary.
This type of policy provides broad coverage, meaning that some claims not covered by a standard policy may be covered under the umbrella policy. Umbrella policy terms kick in once the regular coverage amount is exceeded. Generally, the insured’s standard policies must contain minimum levels of liability coverage that are specified by the insurance company in order to add an umbrella policy, and therefore, greater liability coverage. The umbrella policy provides extra protection in the event a lawsuit exceeds the basic level of coverage outlined in your standard policy.
Auto claims dominate Personal Umbrella (PU) experience, in both loss frequency and severity. Youthful drivers were the leading identifiable cause of loss, followed by driving while impaired (DUI/DWI) claims.