UMBRELLA (PERSONAL LIABILITY) POLICY
A Personal Umbrella Policy offers protection for you and your family against large and potentially devastating liability claims or judgments. It's called an umbrella policy because it offers an extra layer of protection over and above your standard auto and homeowners insurance.
For example, you are involved in an auto accident, and you're sued and found liable for $1 million damages. If your auto insurance covers $100,000, you're personally on the hook for $750,000. If you have a $1 million Umbrella that would go above your auto limits and would cover the $750,000. So you would not have that significant out-of-pocket expense.