What is umbrella insurance?
Umbrella insurance acts as additional coverage over and above the coverage that you currently have for your car, your home, and your boat. In other words, it’s an umbrella over the things that you own. It requires certain underlying limits. I think that the most important reason to have umbrella insurance, other that protecting your assets, is because you can buy increased levels of Uninsured Motorist coverage. Millions of dollars’ worth if you can afford it.
In Florida, you don’t have to have liability insurance to drive a car, so people are driving around out there with no insurance to protect you if you’re hit or killed. Umbrella insurance would provide that additional coverage through Uninsured Motorist. You should buy as much Uninsured Motorist, either individually or through your umbrella policy that you can afford.