I am a health guy and do not have a good understanding of the P&C world.
My in-laws purchased an Umbrella Policy (they owned a home/auto) a few years ago. My understanding is that an Umbrella policy provided additional coverage above auto/home.
Question # 1. Is this correct?
Also, long story short, both have passed away. Only asset remaining is the house, and with the way the market is now, we do not expect it to sell soon.
Question #2. If there is a homeowners policy (which I assume there is) do we need the Umbrella?
Thanks.
My in-laws purchased an Umbrella Policy (they owned a home/auto) a few years ago. My understanding is that an Umbrella policy provided additional coverage above auto/home.
Question # 1. Is this correct?
Also, long story short, both have passed away. Only asset remaining is the house, and with the way the market is now, we do not expect it to sell soon.
Question #2. If there is a homeowners policy (which I assume there is) do we need the Umbrella?
Thanks.