If your loss exceeds the policy limits of your insurance policy, you will be responsible for paying the amount of the loss that exceeds the policy limits. It’s important to carefully consider the policy limits of your insurance policy and to choose limits that will adequately protect you in the event of a loss. If you are concerned that your policy limits may not be sufficient to cover the potential losses you may incur, you should speak with your insurance agent or broker about increasing your limits or purchasing an umbrella policy. An umbrella policy is a type of liability insurance that provides additional coverage above and beyond the limits of your primary insurance policies.