Auto and Home and UMBRELLA?

So you carry auto and home insurance. Think you are shielded from any potential financial disaster?

Think again.

Your home and auto policy have limits. They do not protect you against every unforseen financial disaster.

If you have not purchased an Umbrella policy, you really should call your insurance agent.

What you have now

For Auto Insurance: what if you cause major injuries in an accident, hit a child riding a bicycle, or wipe out someone riding on a motorcycle.

For Home Insurance: what if someone is hurt on your property or your dog injures someone.

These may be extreme losses but they do happen. Maybe they have not happened to you - yet. Let's hope not but what if they do.

What if

Pay close attention to the attorney ad's on television. They apparently work because they continue to run the same advertisements. Someone is out there suing someone else every single day.

If that someone is you - because of a major claim, hope that the damages fall under your limits on your auto or home policy. Otherwise you will find yourself having to pay for them personally.

The Answer
You can make it easy on yourself and spend roughly $350 per year on an Umbrella policy.

An Umbrella covers damages above your auto and home policy. It is one of the least understood and least purchased insurance products. But in this sue happy country you need to get one for yourself.

The alternative if you are faced with a major lawsuit due to a major accident is to use your own savings and assets to defend yourself and pay a possible judgment.

Particularly if you are a parent with a teenage driver. Get an Umbrella policy.

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