The reason to purchase an umbrella liability policy is:
Options:
a) to avoid deductibles on liability claims The Correct Answer Is: |
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Umbrella Insurance MCQs
Looking for the answer to the question below related to Umbrella Insurance? All of the following are true of an Umbrella Liability Policy, except: Options: A) After underlying coverage is exhausted, coverage is excess B) Property in the care and custody of the insured is covered C) Specific minimum limits for underlying coverage are … Read more
Looking for the answer to the question below related to Umbrella Insurance? The insured has a $1,000,000 personal umbrella policy with a $5,000 retention limit. For a $7,000 liability loss not covered under the insured’s personal auto policy, but covered under the Umbrella policy, the insurance company would pay: Options: a) $3,000 b) $1,000 … Read more
Looking for the answer to the question below related to Umbrella Insurance? What costs are paid under an umbrella policy? Options: a) only the required underlying limits and the defense costs b) the limit and any defense costs minus any applicable self-insured retention (deductible) c) the limit minus any self-insured retention d) the limit … Read more
Looking for the answer to the question below related to Umbrella Insurance? Under a commercial umbrella policy, what is the retention limit? Options: a) the underlying policy limits b) only pays for excess losses c) the deductible that applies when the underlying coverage does not apply, but the umbrella coverage does apply d) does … Read more
Looking for the answer to the question below related to Umbrella Insurance? Which underlying policy is not required by a personal umbrella policy? Options: A) Personal auto B) Watercraft C) Homeowners D) Personal Injury Coverage The Correct Answer Is: D) Personal Injury Coverage Conclusion I hope you got the answer to your question.
Looking for the answer to the question below related to Umbrella Insurance? Umbrella liability policies commonly exclude damages that are covered under: Options: a) a contract where liability is assumed for use of aircraft b) a specified dollar value c) insured contracts d) workers compensation insurance The Correct Answer Is: d) workers compensation … Read more
Looking for the answer to the question below related to Umbrella Insurance? The reason to purchase an umbrella liability policy is: Options: a) to avoid deductibles on liability claims b) to reduce insurance costs c) to provide higher liability limits and broader coverage d) to provide coverage to cover everything that the underlying coverage … Read more
Options:
a) to avoid deductibles on liability claims The Correct Answer Is: |