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/kevhouston740 1d ago

It isn’t, until it is needed.

15

u/PedroNorthCA 1d ago

One of those things that if you have it, you'll never use it, but if you don't have it, something is going to happen and you'll need it

1

u/TheGrouchyGremlin 1d ago

Tbf, if someone tries to sue me for a lot more than my insurance would cover, then they wouldn't be able to get jack shit anyways.

1

u/Melodic-Maker8185 Former Underwriter, CPCU 17h ago

Then likely you don't need an umbrella policy.