Umbrella insurance provides you with an extra layer protection should you be found liable for causing bodily injury to someone else or damaging the property of others.

Because the average size of jury awards has increased dramatically in the last few years, umbrella insurance has become more important, particularly for people who have significant assets.

Whether or not you are actually negligent in an incident, a single court judgement or the legal expenses to defend yourself against a claim can ruin you financially. Standard home and auto policies may not be able to cover your entire loss.

A personal umbrella can provide the security you need to avoid a catastrophic financial loss. It provides coverage for you and your family above the limits set by standard liability policies. The best part of umbrella insurance may be this - although your protection is substantially increased, the cost is very reasonable. Your cost will depend on limits selected, drivers in your household, number of autos, residences, boats, etc., and the area of the country where you live. The cost could be as low as $200 a year.

A few examples of situations where umbrella insurance is needed:

• One evening while on the way home, a driver doesn't see a stop sign and broadsides a city bus. Several of the occupants are injured, resulting in a large lawsuit.

• A family dog bites a child. Although the child is not seriously injured physically, there are some resulting psychological problems. The dog's owner is sued for a substantial sum.

• A man on vacation rents a boat. He runs into a water-skier, severely injuring the skier's legs. A lawsuit ensues.

• A homeowner is responsible for a fire that sweeps through his condominium complex, causing millions of dollars in damage and resulting in several lawsuits

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