Question
Is it necessary to get umbrella insurance with uninsured / uninsured coverage?
My wife and I are both retired and are on medicare. When we were talking to our agent about an umbrella policy he mentioned additional coverage against uninsured motorist. Do we need it?
Answer
Umbrella insurance provides additional liability coverage above and beyond what you have on your auto and homeowners policies. This protects your assets in the event that you are sued for injury or damage that you may have caused to another party for which you are liable. Umbrella insurance generally does not provide any uninsured motorist or medical coverage for you or your spouse. However, if your company offers additional uninsured motorist coverage as part of an umbrella policy, it might be a good idea to consider it but it is not required. This would simply add more protection for you and your wife, but it really is a judgment call on your part.
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