How do I know if I need an umbrella policy?
Should we wait to get an umbrella policy until we have more assets, or get it now since we both make close to a 6 figure salary? My State Farm agent advised me that my husband and I should think about getting an umbrella policy. We don't own any property yet, but we are saving for a house.
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- Your pet bites someone and they sue you for medical payments and pain and suffering.
- You serve alcohol at a party at your home and someone gets in a car accident after they leave. They can sue you for the accident since the drinking took place on your property.
- Your child hurts another child by accident at the playground.