An umbrella policy is an inexpensive policy that provides financial protection only in the event of clearly defined major catastrophes such as hurricanes or earthquakes-events which are referred to in the insurance industry as "rainy days."

Question

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An umbrella policy provides financial protection for a wide range of situations, not just major catastrophes like hurricanes or earthquakes. It is designed to provide additional liability coverage beyond what is provided by primary insurance policies such as auto or homeowners insurance.

An Umbrella Policy Is an Inexpensive Policy That Provides Financial