Quote:
Originally Posted by manaboutown
I have had a $5M umbrella policy with State Farm for many, many years. I do not know if they go higher than that these days. That was the limit when I took it out. The premiums do go up with every yearly renewal but I feel it is at least important if not essential for me to have.
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To me, a $5 million umbrella policy can make sense for some people. But a $1 million umbrella policy is usually too expensive to justify the cost vs the coverage. If you only need $1 million, you are better off shopping for individual policies that offer higher liability limits within the basic auto or homeowner's policy. Both State Farm and Allstate are good choices for high available liability limits.