Why You May Need an Umbrella Policy
Many car insurance companies limit your protection to a maximum of $300,000 per accident - sometimes as high as $500,000.
If you have considerable assets (such as a home), getting an umbrella policy is a very smart decision.
First of all, umbrella policies are relatively inexpensive because they are rarely used. You can get a $1 million umbrella policy for less than $350 per year.
Furthermore, an umbrella policy will cover both your car and home insurance beyond their limits.
The cost of umbrella insurance will be a bit higher if you have a teenager on your policy, since they tend to cause a large percentage of high-cost claims.

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