Who actually needs a personal umbrella policy in Georgia?

In Georgia, a personal umbrella policy is for anyone whose assets or future income could be wiped out by a large lawsuit that exceeds their home and auto liability limits. An umbrella adds extra liability protection, usually starting at $1 million, that kicks in after your underlying policies are exhausted. It is surprisingly affordable, often a few hundred dollars a year for $1 million of coverage.

An umbrella is most relevant for owners with a home, savings or investments, a strong income, a pool or trampoline, a dog, frequent guests, teen drivers, or rental property or a boat, because any of these raises the odds of a serious claim that exceeds standard limits. Any of these raises the odds of a serious claim that could blow past standard limits.

Example: You cause a highway crash in Georgia that seriously injures another driver, and the claim totals $1.2 million. Your auto insurance limit is $500,000, leaving $700,000 unpaid. A $1 million umbrella covers that gap, protecting your home and savings from being seized to satisfy a judgment.

A common approach is to carry enough umbrella coverage to protect your net worth, and your future earnings too. Even people who do not feel wealthy often have more to lose than they realize once you add up home equity, retirement accounts, and wages. Learn more about umbrella insurance, then request a free coverage review and we will tell you whether it makes sense for you.