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Personal Umbrella

A personal umbrella policy is probably the most cost effective policy anyone could ever buy! A personal umbrella policy is a liability policy and it does two things:

1. Provides you with more (much more) liability coverage. Policies are usually sold in increments of $1,000,000. Here is an example of how this works. If you have $500,000 of liability insurance on your automobile policy (the highest limits generally available) and are involved in a very serious accident, you could be sued for much more than your coverage provides. A personal umbrella policy will provide you with an additional $1,000,000 of liability insurance. We recommend you buy enough coverage to secure your net worth and your future earning potential.
2. May provide you with broader coverage. Your homeowners insurance policy and automobile insurance policies all have coverage exclusions and limitations. Umbrella policies may not have as many exclusions and therefore may cover more kinds of claims than a standard auto or homeowners policy would. An in-depth discussion with your agent will help identify areas where an umbrella policy provides expanded coverage

How good of a deal is this? Costs are in the low $100 dollar range while the coverages are in the millions.