easy · Certified Financial Planner Risk Management
Duarte is considering a $1,000,000 personal umbrella policy. The umbrella insurer requires that he maintain a minimum of $300,000 in underlying auto liability coverage. Duarte currently only carries $100,000.
If Duarte is found liable for a $500,000 auto accident claim, what is his personal out-of-pocket exposure?
- $0
- $400,000
- $200,000
- $300,000
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