Offering an extra layer of protection over your auto or homeowners insurance, personal umbrella insurance prepares you for the worst. A serious accident at home or in your car can be traumatic enough, but what if you get sued because of it or you owe more than you can afford? An umbrella policy protects you when your regular policies reach their coverage limit. It can be used to cover a wide range of losses, including bodily or personal injury and property damage. To qualify for Umbrella Insurance you must have home and auto insurance with at least $500,000 liability limits.