1. A personal umbrella policy is designed to:

Provide additional liability limits above the insured's underlying auto and home policies

A personal umbrella provides extra liability limits above the underlying auto and homeowners policies and may cover some gaps.

2. Because standard homeowners policies exclude flood, coverage is most commonly obtained through:

The National Flood Insurance Program or a private flood insurer

Flood coverage is typically obtained through the National Flood Insurance Program or a private flood insurer, not the homeowners policy.

3. A boat owner whose watercraft exceeds the small limits in a homeowners policy should obtain:

A separate watercraft or boatowners policy

Larger watercraft need a separate watercraft or boatowners policy because homeowners coverage for boats is very limited.

4. A personal articles floater is most appropriate for insuring:

Valuable items such as jewelry, fine art, or cameras on a scheduled basis

A personal articles floater schedules and insures valuable items such as jewelry, fine art, and cameras, often without a deductible.