Protect Assets and Net Worth with Umbrella Insurance

For Existing and New Policies to Protect Against Personal Liability and Judgements

Ask your insurance agent about umbrella insurance. It’s inexpensive insurance (around $300 annually for $1 million of coverage) that covers personal claims, lawsuits, and judgments against you that exceed the dollar limits of your existing property and casualty coverage (e.g., home and auto insurance).

How it works: If you seriously injure a person (say, a car accident) and are sued for $1 million, umbrella insurance will cover the amount in excess of your auto insurance policy, which may specify a dollar limit of only $300,000. If you already have umbrella insurance, ask your agent to reevaluate your needs based on your current asset position to be sure the umbrella amount is sufficient to protect you.