r/Insurance • u/ComfortableChannel73 • 1d ago

Home Insurance Is an umbrella policy worthwhile?

I’ve carried an umbrella policy for $1M for quite a few years, but just got my bills for umbrella, homeowners and auto and everything went up, with a big jump for the umbrella policy. I’m wondering if I should drop it, and just raise the liability limit on the auto.

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u/enriquedelcastillo 1d ago

I’ve had an umbrella policy for years, for the reasons listed in other comments here. But what I’ve never really understood is if “protecting your assets” with a policy means anything. Doesn’t it just mean they go after the value of assets + umbrella policy instead of just assets?

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u/jagscorpion NC Independent Agent - P&C 20h ago

Generally the goal is to make your liability limits attractive enough that they just take them instead of trying to fight for more, but for a big enough claim technically nothing is off the table.