Umbrella liability insurance protects you from getting the pants sued off of you.
If a judge decides in favor of the guy suing you, he can take everything you’ve got PLUS money you haven’t even earned yet! (No, seriously!)
So here’s the top 3 reasons you want to get a policy.
#3 It doesn’t matter if you did it on purpose.
Being “at fault” has nothing to do with intentionality. If you hit them because you were looking at your phone instead of the road, you didn’t hit them on purpose, but you’re still gonna lose everything you’ve saved.
#2 You worked really hard to save what you’ve got.
How much have you sacrificed to save your money? How would you like to start over from scratch? Umbrella liability insurance will make sure you’ll never have to start from scratch.
#1 It’s really, really cheap.
A $1M policy usually runs $300-500 per YEAR. You want coverage in an amount of either $1M or the total value of your assets, whichever is higher. (For the record, I don’t believe in paying a single penny for insurance you don’t need, so this isn’t that! You happen to need it and it’s really cheap. Win-win!)
Talk to your home and auto insurance guy about a policy.
They might make you bump up the liability coverage on your home and auto. That’s normal.
If you don’t have a “guy” you like, lemme know and I’ll introduce you to our guy no strings attached.
