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Georgia Umbrella Insurance Policy: Is It Worth It?Umbrella insurance is coverage that should be strongly considered by every candidate who is able. A lot of people may think it is not necessary because they feel like the chances they have to make a claim is slim. However, if you get in a situation where someone sues you, and you don’t have umbrella insurance you can be in big trouble. No matter how rich you are, you have the ability to lose large amounts of money and assets.

Umbrella insurance provides coverage for the liability above the limits of your homeowners, auto, renters, etc. policies. You can purchase very high limits of coverage for fairly low prices. For example, you can get $1 million in coverage for about $200 a year. In the case that you would injure someone and be held liable, this would be completely worth it. If you didn’t carry this coverage then the defense attorney could go after all of your assets including future wages.

It is easier for both sides if you carry this coverage because the injured person would prefer to collect from your insurance than to go after your future assets, and you would prefer to have insurance cover it over losing your bank account, home and other assets. It’s still up to you as the policy owner to decide if umbrella insurance is worth it, but after looking at the risks, it seems as though it is.


Mann, Leslie. “Should You Seek out Umbrella Insurance?”Tribunedigital-chicagotribune. N.p., 20 Mar. 2014. Web. 16 July 2015.