The impetus of this article is simple – we are asked multiple times a day by well-intentioned investors... More...
A Comprehensive Personal Liability Policy (aka: a ‘CPL’) is often confused with a Personal Umbrella policy, but they are NOT the same thing. Most investors assume the term ‘liability insurance’ is an all-encompassing one-size-fits-all coverage, but this is absolutely untrue.
An umbrella policy is designed to act as a second layer of liability protection after the limits in the underlying policy have been exhausted.
A CPL policy on the other hand is designed to provide ‘first defense’ for the insured in the absence of other liability coverage.
The reasons why many investors need CPL coverage are simple: