The problem with Umbrella Insurance Policies is not that Policyholders do not buy them. The Premiums are way lower on average than the Premiums charged for the same amount of Primary Insurance Coverage.
Rather, the problem with Umbrella Insurance Coverage is that the vast majority of Policyholders are not insured with adequate limits on their Umbrella and other Excess Insurance Coverages over and above their Primary Homeowner's Insurance or Automobile Insurance Policies, for example. Joseph B. Treaster, "Umbrella Coverage for Preventing Your Ruin" (New York Times.com, Tuesday, March 18, 2008).
There is no time like the present to take the counsel of this respected reporter in the article linked above, and check on your own Umbrella Insurance Policy Limits, or to counsel others you may represent to do the same.
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