Dropping the umbrella?

Since most of my assets are in IRAs and my income is from pension and SS, is there a reason to keep an umbrella policy ?

Is the reason you bought it still in play?

Also double check state laws. Say you bought it while living in state X but now reside in state Y. Things could be different as to what can be seized or have liens placed on.

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Depends on What It Covers.

Does it cover accidents/injuries on your property by 3rd parties? Damage to adjoining property caused by something on your property?

Then, do you still need that coverage?

I never had one cover my income.

Does that help you?

All holdings and some statistics on my Fool profile page
https://discussion.fool.com/u/gdett2/activity (Click Expand)

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Do you own real estate? How is it protected? Umbrella policy usually gives additional coverage for a variety of liability including extra real estate and auto.

Those assets can be attached in a lawsuit. Umbrella coverage is inexpensive.


Which is exactly why we keep one. Insurance: the product you buy and hope never to use.

I know everything posted and I would love to find out how to stop getting emails. No one addressed the question I asked but maybe the posts helped someone else. I am not a believer in all insurance is good or necessary and questioning it seems reasonable. But then I am single and no one is pulling at the bit for an inheritance.

Presumably you are getting emails in response to your original post. If so (these instructions are for my iPad, but I’m sure it is mostly the same no matter what the platform)\

Click on your “Name” in the upper right corner.

Then click on the little icon that looks like a person.

Then click on “Preferences”

Then click on “Emails”, found in the line at the top.

Adjust your preferences to “never” or whatever you want.