Author: Alen Caullerbr
Source: ezinearticles.combr
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The main aim of an Umbrella Liability Auto Insurance is to provide peace of mind to all those who want some additional coverage besides the basic auto coverage that they possess. It is basically designed to cover the policy owner in case the owner is sued by the court and is held responsible for a serious accident. This policy is also referred to as excess coverage or ULI and it helps to pay off the claim amount in case the policy holder is found to be legally involved in some accident.
How Does An Umbrella Liability Policy Work?
Read on to understand how a ULI works and how it can protect you from paying huge damages.
Suppose you own auto insurance coverage with a liability limit of $200,000 per accident and you also possess a ULI with a liability limit of $2 million. Now you are found to be responsible for an auto accident and the court slaps a $300,000 fine on you. In such a case while your auto insurance would shell out $200,000, the rest would be paid by the ULI policy that you own.
What Coverage Is Provided By A Typical ULI?
An Umbrella Liability Insurance policy provides the policy owner with the below mentioned protection:
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