October 21, 2013
What is umbrella insurance and who should consider acquiring it?
What is umbrella insurance and who should consider acquiring it?
Umbrella insurance is an extra layer of insurance that can pay for medical, court, or other expenses you may be required to pay after basic home/car insurance policies stop. You should consider acquiring umbrella insurance if you and/or your assets are at risk.
Beautifully said, Katherine. Umbrella insurance is cheap and worth it IF you need to cover your assets beyond your normal car and home insurance needs. As a rule of thumb, once you hit a net worth of $500,00, you might consider adding this extra layer of protection to protect you from a lawsuit that goes beyond your other insurance caps.