YouBet said:

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TXTransplant said:

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Mine is only $1MM.

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I would get a broker. We've used one for several years now. It's a very easy button to push.

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Pinochet said:

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Tormentos said:

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So what is the right amount of umbrella to have? Currently I have a policy covering my net worth, including retirement assets and a home that is paid off (~$1.5M of the policy coverage I have in place).

Do I need to be including the home equity and retirement assets in my coverage?

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I've been curious how the "just insure your net worth" advice was determined. My net worth becomes the additional amount someone could get once my insurance policy is gone, so a $1 million net worth and $1 million umbrella means someone gets a judgment for $2 million and I'm worth zero. Seems like the wrong measuring stick for insurance need.

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