Which of the following statements regarding umbrella policies is true? If Felix's mother-in-law trips on a broken step on his porch and suffers injuries that require $120,000 worth of medical care, his umbrella policy will cover the difference between the total cost and what the HO-1 covers. If Felix's house is destroyed by a peril not listed under the HO-1's named perils, the umbrella policy will cover the cost of rebuilding (up to $1 million). The cost of the additional umbrella policy is extremely high; therefore, it is worth it only if Felix is extremely wealthy