Quote:
Originally Posted by Aldidonato
As far as an umbrella policy endorsement under my homeowners policy--I am told that is not available or possible because there is no boat coverage that is part of my existing homeowners policy. I am told that increased liability coverage under my homeowners only increases the coverage that is part of the base homeowners policy. Again, I tend to believe and trust this answer when I ask the question of insurance agencies that are in the business of making money by selling insurance.
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Aldidonato..Well, I've spent some 38 years in the insurance biz, mostly on the claims end. The purpose of an umbrella policy is to up the limits of liability coverage under your HO policy, but IN ADDITION to fill in the gaps by providing coverage for other incidents like liability for rental purchases.
As with any insurance policy where the "rubber meets the road" is contained in the agreements. Under my Umbrella policy issued through Central Insurance Company it specifically states" Liability for bodily injury arising out of the maintenance,occupancy,operation, use, loading or unloading of such vehicle or craft by any person." This phrase comes under Aircraft liability, Hovercraft liability, RMV liability and Watercraft liability.
It is axiomatic in the insurance industry that any ambiguity in a policy of adhesion (which is what you contract is) is interpreted in favor of the policy holder.
So, I disagree with the individual you spoke to who gave you that advice. My advice to you, speak to a CPCU or better educated agent or broker.
