3300 Hedley Road
Springfield, Illinois 62711
Phone: (217) 698-9000
Fax: (217) 698-9898
Umbrella Policy
Umbrella Policy (Glossary Word)
A liability policy with high limits. Provides coverage for losses above the liability coverage limits of an underlying policy or policies such as homeowners and auto insurance. Coverages are often broader than those underlying policies and vary from insurance company to insurance company. Unlike the underlying policies a deductible, or retention, is usually applied to a loss before a loss payment.
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