Key considerations when choosing between personal umbrella and excess policy
Coverage limits and exclusions Personal umbrella insurance generally offers higher coverage limits and fewer exclusions compared to excess policies. It's essential to review the specific coverage and exclusions of each policy to determine which one meets your needs.
Cost-effectiveness and premium comparison Personal umbrella insurance is often more cost-effective in terms of the coverage it provides compared to excess policies. Comparing premiums and coverage options can help determine the most cost-effective solution.
Additional benefits and policy features Personal umbrella insurance policies may offer additional benefits and features, such as worldwide coverage, coverage for personal injury claims, and coverage for legal defense costs. Assessing these additional features can aid in choosing the right policy.