[QUOTE=JGVillages;2306689]Is this possibly the same as an Umbrella Policy which covers excess needed liability.[/QUO
Yes, commonly called Umbrella Policy. Normally pick up liability beyond what is selected on your house, cars, boats etc. They usually specify the base level required on your policies for home, auto etc and allow you to select the added liability you want to cover.
i.e. If you were judged to be responsible for $500,000 and had a auto policy covering $300,000. They would cover the balance. Without the coverage, you would have to cover the excess from your own assets. You select the top level of coverage.
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