What type of insurance provides excess coverage over underlying insurance along with broader coverage?

A Personal Umbrella Policy offers additional liability coverage beyond what is provided by underlying policies, such as auto or homeowners insurance. This type of policy acts as a supplemental layer of protection, kicking in when the limits of the underlying insurance are exhausted. It also typically provides broader coverage for certain situations that may not be included in the underlying policies, making it a valuable tool for individuals looking to protect their assets against significant claims or lawsuits.

This expanded liability coverage is especially useful for individuals who may face higher risks due to their lifestyle or occupations, as it can cover incidents that occur in a variety of scenarios. The functionality of a Personal Umbrella Policy is key to its purpose, as it not only increases the limit but also enhances the protection available in common risk situations that may not be fully addressed by primary insurance policies.