Do I have to carry umbrella insurance?

I own my home and my car and insure them both, but my friend mentioned something about needing to have umbrella insurance, too. Is it required by law?

Umbrella insurance is intended to provide liability coverage in addition to that of your home and car insurance policies. There is no legal requirement to carry an umbrella insurance policy but many people do to better protect their assets if they were ever to be sued. While I would recommend it for anyone who owns their home, it's definitely not required.