What is self-insured retention on umbrella policy?
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The self-insured retention is the amount of loss incurred by a policyholder prior to the start of benefits under an umbrella insurance policy. It’s the amount of a claim that, prior to the start of your insurance coverage, you must pay for yourself.
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The self-insured retention is the amount of money the insured must pay out of pocket before the umbrella insurance policy takes over. This only applies if the primary insurance policy doesn’t cover the loss, but the umbrella policy does.
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