Umbrella Insurance MCQs

Umbrella Insurance MCQs

All of the following are true of an Umbrella Liability Policy, except:

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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

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:

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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

What costs are paid under an umbrella policy?

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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

Umbrella liability policies commonly exclude damages that are covered under:

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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

Umbrella Insurance Quiz – Multiple Choice Questions (MCQs) | Umbrella Insurance Policy

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Umbrella Insurance Quiz

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 might exclude

The Correct Answer Is:

 

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