An umbrella insurance policy can protect your assets and future earnings from expensive lawsuits. This type of policy increases the liability limits beyond the coverage offered by your auto and homeowners insurance policies.
“Catastrophic financial loss could occur in seconds,” says Ana Robic, chief operating officer of Chubb Personal Risk Services. The cost of a lawsuit, medical expenses and legal fees can devastate your savings, but you can buy an umbrella policy that can provide millions of dollars of coverage for hundreds of dollars in premiums.
