Umbrella Insurance: The Coverage You Should Possess, Yet Frequently Neglect

Umbrella insurance may not be at the top of many people’s minds as a source of protection, unlike other forms of coverage such as auto or home policies. I rarely hear anyone mention umbrella insurance (even our trusted financial gurus!) until about a year ago when it became clear to me. Umbrella policies can actually be quite tedious (like most things related to personal finances!).

As part of my recent shift in thinking, I am now an umbrella insurance policy holder and consider it essential for everyone’s protection – plus it’s relatively inexpensive for what coverage it provides! Unfortunately, umbrella policies are one of the least utilized forms of protection, so I wanted to provide some clarity through an umbrella insurance basics post so you can decide whether this type of coverage might suit you or not.