How Important to have Umbrella insurance policy?

Just evaluating my options whether to have Umbrella insurance or not.

Presently, I do not have any Umbrella insurance policy.
How Important to have Umbrella insurance policy?

Is it worth covering as I have few rentals and cars?

If you have one, what is the lowest limit we can have?

I have it with Geico for 1 million. It was just $120 / year. But after talking on this forum, I increased to 2M. You guys scared me with your stories. Because of this policy, I can reduce my regular insurance to cover only 300K limit since Umbrella kicked in after 300K, so I actually save some money in my regular insurance too. Also get some discount on my car insurance since I have it with Geico too. IMO, it is a peace of mind thing with not a lot of downside.


You want to cover yourself against frivolous lawsuits. Didn’t you say you had some mold issue in your rental, @Jil? That can be serious stuff. So definitely get yourself some coverage. It’s like the price of a good dinner for a whole year’s worth of coverage. IMO it’s not why, but why not.

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What’s the exclusions for umbrella insurance? I have one becaus it’s cheap. But not sure what things will not be covered.

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+1 (great minds think alike…or in my case, I got lucky)

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Umbrella is worth it.

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Thank you.

Yes, Yes and Yes, However, my rental insurance have original liability appx 1M.

Similar home issues and another car accident made me to think about this.

AAA quoted appx similar amount $145/year for 1M. I am paying little higher as the coverage, four people, is more for me.

Great. Without seeing this message, I already bought one for 2M.

Thank you all !

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They have covered four people, all the cars and all the rentals. They have told me this is our personal umbrella insurance.

Any claims such as my business law suits resulting from my S-CORP/LLC will be excluded and these entities must be covered by commercial business insurance.