Dave Ramsey says: Umbrella insurance will ease mind
At what point, where your net worth is concerned, should you consider additional umbrella insurance?
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!