Umbrella Insurance
You need an umbrella policy if you have a child driving a car, have friends over for dinner and alcohol is served, rent out a house you own, serve on the board of a nonprofit organization, or your net worth (including the value of your home and savings) is more than $100,000.
An umbrella policy is an additional layer of liability protection- above your homeowners, auto, landlord, and other insurance coverages. For example, if you are in a terrible auto accident an umbrella policy is design to cover the costs of a lawsuit, settlement and legal fees, above the limits of your auto policy.
Simply put, an umbrella policy provides you with additional protection for an economical price.