|
I just received the umbrella liability renewal notice from my insurance company and got a minor surprise. They have changed the policy from "Personal Umbrella Liability" to a "Personal Excess Liability".
I searched a bit in google and various websites seemed to indicate that these two policy types are essentially synonymous. That was reassuring until I read the insurance company's official enclosed notice that states: "There are DIFFERENCES (emphasis mine) between an umbrella liability policy and an excess liability policy. (1) An umbrella policy may cover claims that are not covered by your primary policy. (2) An excess liability policy extends the liability limits of your underlying policy."
As is typical, I have all my insurance policies --- auto, home, and umbrella excess liability policies --- with the same insurance company which came highly rated and recommended by my local AAA.
Any resident experts on insurance policies here who could provide some insight on the policy name change? Should I be concerned? I'm pretty good at reading and understanding contract documents but insurance policy language often stumps me (sigh).
|