ECONOMICS
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Property damage liability
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Malicious prosecution
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Slander
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Personal belongings
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Detailed explanation-1: -An Umbrella Insurance does not provide cover for the following scenarios: If there is any injury or damage to your personal asset. If you’re facing a criminal charge for hurting someone. If you assume all liabilities for covered under the contract.
Detailed explanation-2: -An umbrella policy gives you additional liability coverage. This can help cover the cost of injury to others or damage to their property. It does not cover damage to your own home, car or possessions.
Detailed explanation-3: -Umbrella insurance is extra insurance that provides protection beyond existing limits and coverages of other policies. Umbrella insurance can provide coverage for injuries, property damage, certain lawsuits, and personal liability situations.
Detailed explanation-4: -Personal umbrella insurance policy in action Here’s an example of how a personal umbrella policy works: If you’re at fault in a car accident that injures another driver, your regular auto insurance may cover the other driver up to the limit you selected, say $250, 000.
Detailed explanation-5: -Bodily injury to others. Property damage to others. The legal costs to defend you in lawsuits related to these problems. Lawsuits such as defamation, libel, slander and invasion of privacy. Incidents that happen outside the U.S. 05-Oct-2022