Meaning Underlying insurance policy
What does Underlying insurance policy mean? Here you find 2 meanings of the word Underlying insurance policy. You can also add a definition of Underlying insurance policy yourself
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Underlying insurance policyThe policy providing initial coverage for a claim until its limit of liability is reached and an umbrella or excess policy’s coverage is triggered.
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Underlying insurance policyWhen an umbrella policy is adding protection to another insurance policy, like your auto insurance for example, your auto insurance is the underlying insurance policy. Any and all of your other policies being protected by umbrella insurance are considered underlying insurance policies.
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