The two staples of personal insurance are home and auto insurance. They protect you and your assets in the event of a loss. Most people who own a home or a vehicle have these coverages.
That being said, both of those coverages are subject to maximum limits. If you’re in an accident that causes bodily injury or property damage to someone else, you could be sued.
With some recent settlements threatening to exceed the policy limits, it’s a good idea to consider personal umbrella insurance. This insurance sits over top of your personal home and auto coverage to ensure your personal assets are protected.