Should I buy an umbrella policy?

A friend mentioned they got one, and I wonder if I need one too.

If you currently own your home and/or other high value assets, it's probably a good idea to consider an umbrella policy to protect yourself in the event of a lawsuit. Deciding whether or not to purchase an umbrella policy is a judgement call, but it would provide you with additional liability coverage up to a minimum of $1million. You should consider all of your assets to determine your specific exposure and coverage needs.