An insurance policy providing excess liability coverage for homeowner's and automobile insurance as well as additional coverage not provided by either policy is referred as:
Click on the arrows to vote for the correct answer
A. B. C. D.A
The correct answer is A. Personal liability umbrella policy.
A personal liability umbrella policy is a type of insurance policy that provides excess liability coverage beyond the limits of homeowner's and automobile insurance policies. It also provides additional coverage that may not be provided by either of these policies.
This type of policy is designed to provide protection against potential lawsuits and large liability claims that exceed the limits of standard insurance policies. The coverage typically includes bodily injury, property damage, and personal liability claims that may arise from incidents involving your home or car.
For example, if you are involved in a car accident and are found to be at fault, your automobile insurance policy will cover damages up to a certain limit. If the damages exceed that limit, a personal liability umbrella policy would provide additional coverage.
It's important to note that a personal liability umbrella policy is not a standalone insurance policy. It is an add-on to existing homeowner's and automobile insurance policies. Additionally, the coverage limits of a personal liability umbrella policy are typically much higher than standard insurance policies.
In summary, a personal liability umbrella policy is an insurance policy that provides excess liability coverage beyond the limits of standard homeowner's and automobile insurance policies. It is designed to provide protection against potential lawsuits and large liability claims.