Umbrella Insurance provides extra protection, or limits, above the liability insurance you currently have.  Umbrella coverage can protect against bodily injury liability and property damage liability as well as slander, libel, malicious prosecution, shock, mental anguish, false arrest, detention, or imprisonment, among other personal liability situations.

Umbrella Insurance also potentially protects you and your family from the actions of your household family members.  For instance, your teenager uses poor judgment on social media, and it results in a lawsuit.

For about $150 to $300 per year, you can buy a $1 million personal umbrella liability policy.  The next million will cost about $75, and $50 for every million after that.

Why a Personal Umbrella May Be Right for You

Here is an example.  John Smith fell asleep while driving and hit a van with a family inside.  The accident resulted in $600,000 of medical bills, but John Smith's auto policy had a $500,000 limit.  Fortunately, John Smith also had a $1,000,000 umbrella policy, and the additional $500,000 was covered under the Umbrella.

It is true that Umbrella Insurance may not be for everyone, but if you are building financial resources for your future, are a professional, own your home, or own a boat or recreation vehicle, you should consider an Umbrella Insurance policy.  For a few hundred dollars or less, isn't it worth protecting your future?