I have my auto insurance with State Farm, and I have $1 million in liability coverage, but it is part of the auto policy, NOT an umbrella policy. The premium for the liability insurance is $303 for 6 months. Whenever I have reviewed an umbrella policy, it only covered the same risks as the underlying policies, auto and homeowners. Some people mistakenly believe that an umbrella policy covers additional risks, but that is often not true. I have $500K in homeowner's liability with Progressive, which I think is adequate. Both State Farm and Allstate will allow a liability limit of $1 million on their auto policies, but many companies will max out at $250K. If you really need an umbrella policy, good luck, because they can be very expensive. I would avoid it if possible. But, if you really need it, I would increase it to 3 or 4 million. Why not just max out on the liability coverage available for the auto and homeowner's basic policies?
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