An umbrella insurance policy extends beyond the limits of your standard insurance policies to give you excess coverage over and above what is offered by the other liability policies. This policy is especially useful if you have valuable assets that you might lose in a lawsuit. An umbrella insurance policy protects you and your assets by covering you for excessive
If you have a source of income and assets/savings, you should purchase a personal umbrella insurance policy. One of the key reasons to have umbrella insurance is that if you lose a lawsuit, the legal settlement can wreak your current assets as well as your future income. Here are five reasons why you need a personal umbrella insurance policy. 1.