SHOULD YOU ELECT TO HAVE A RETAINED LIMIT ON AN UMBRELLA POLICY?

Electing to have a retained limit on an umbrella policy can be beneficial if you want to keep your premiums lower, as a higher retained limit typically results in reduced coverage costs. However, it also means you will need to cover more out-of-pocket costs before the umbrella policy kicks in. It's essential to assess your financial situation and risk tolerance to determine if a retained limit aligns with your needs. Consulting with an insurance professional can help you make an informed decision.