Dave Ramsey says: Umbrella insurance will ease mind

Dear Dave,

— Kyle

Dear Kyle,

You can buy an additional $1 million in liability insurance for your home and car for around $250 a year.

Why would you want that?

If you were a target. Why would you be a target? If you have a net worth of $500,000 to $1,000,000 or more.

You might also be a target if you just have a really good income and make a lot of money.

In either case, you’d want to pick up a liability umbrella policy. Good question!

— Dave

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