By Paul Schmitt
Umbrella insurance policies are options many people may not have explored in their insurance portfolio. Umbrella policies are usually written as a $1 million minimum over the coverage of a regular policy. They are designed to protect your assets and your future against major claims and lawsuits. Mike Walston from Roberston Ryan & Associates explains how an umbrella policy works.
Walston says there are still litigious people and lawyers looking to settle for large sums for their clients, so he does recommend it as an option for the highest qualified limits. Insurance providers usually require a minimum of a $300,000 underlying liability policy that is separate from the umbrella policy.