Beyond a certain point a single umbrella is not the end of the structure. Excess policies sit above umbrellas, and households at this level are frequently carrying less than they assume.
An umbrella has a limit too. Above it, an excess policy is a further layer with its own carrier.
Three things about building a tower rather than a layer.
An umbrella sits above your home and auto liability and has its own limit. When the exposure justifies more than a single umbrella provides, an excess policy sits above it, sometimes with a different carrier. Households frequently assume an umbrella is unlimited protection, and it is simply the second floor of the building.
A tower only works if every layer attaches at the point the one beneath it ends, with no gap. Changing a middle layer without adjusting the ones above is how a structure develops a hole, and that hole is invisible until a claim passes through it.
Net worth outside protected accounts, the property, the pool, the grounds, staff, vehicles, young drivers and anything commercial all inform the figure. Several million is ordinary at this level, and the number should come from the analysis rather than from a brochure.
The whole structure rather than one policy.
And whether anything sits above it.
Each must start where the one below ends.
Properties, vehicles, watercraft and entities.
Send every liability policy you hold, including any excess layers.
We review the whole tower, not the policy in front of us.
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