Umbrella Insurance is a Good Idea
What is an umbrella policy?
An umbrella policy is for coverage over and above the limits of your automobile and homeowners’ policies. Usually they can only be obtained from your auto insurance provider. Why? Because their main exposure is for an auto accident you might cause, and they want to know you have good basic coverage.. Therefore they will insist that you carry considerably higher basic coverages than state law requires. Sure, a $25,000 liability policy is all that is required in many states, but you’d be surprised how little more premium it takes to up your coverage to $300,000 , then add on a million or two million umbrella policy over and above that for just a couple of hundred dollars more.