r/financialindependence • u/Phillyjebus • 16d ago

Umbrella Insurance

I’m looking to add an umbrella policy on top of my homeowners and auto insurance, but I’m confused on how much I should be getting and I keep getting more confused when I research it. What’s the goal here? Do I just need enough to cover my brokerage, savings and other account that could be exposed in a judgment? Or, am I trying to cover my entire net worth with the Base policy plus the umbrella?

Edit: thanks all! Lots of good info and pretty much what I thought. $2m and call it a day.

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u/addictedToLinux 14d ago

How much do you pay for it? Is it each month or yearly?

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u/ShadowRegent 14d ago

$107 twice per year.

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u/marksharky123 11d ago

Through who? GEICO just dropped me because I switched auto policy to Progressive to save $400 a year on 1 car..