OT: Umbrella Insurance, necessary?, Howard?? Options

[neo914-6]

Ok, so now that my wife has accumated more collectibles she wants me to buy an umbrella policy insurance to cover them.

My insurance company, Allstate says I need to max both my home and auto insurance BEFORE I can buy the umbrella policy! (IMG:http://www.914world.com/bbs2/html/emoticons/confused24.gif) I have old cars so I don't carry full coverage but my small shoebox I live in is appreciating. (IMG:http://www.914world.com/bbs2/html/emoticons/biggrin.gif)

I live in lawsuit prolific California and live in the high cost of insurance/everything city of San Jose.

Any reasonable suggestions or guides?

[wheelo]

As mentioned , Umbrella is for liability- only, and most carriers require "underlying" coverage amounts. Thing about umbrella policies, is they are usually very "Broad" in coverage, that is you are covered during more activities, such as boating, atv, etc.
They are excess insurance, purchased to protect your assets, should you or your family become the target of an injury type lawsuit. Potentially, they could take your house, and garnish your wages, to settle the awarded cash, should you be found "at fault" for damages.

- M

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