In CA everything is a liability exposure....dog bites, people tripping on your property, car accidents, kids running out in the street, scammers, etc...everyone is law suit happy here. Best to be protected if you have a house or income to protect.
If you're going to cancel your umbrella, why not cancel your auto and home insurance too? Does it matter whether you owe $1.5mil (without auto ins) or $1mil (with auto ins)?
I'm nearing retirement and I own my home in in California. I am also considering dropping my umbrella policy. I will have a pension, social security, a home with less than $699,426 in equity, and an IRA under $1.5M. Is an umbrella policy necessary if one is judgement proof?
This was a great discussion thank you!
In CA everything is a liability exposure....dog bites, people tripping on your property, car accidents, kids running out in the street, scammers, etc...everyone is law suit happy here. Best to be protected if you have a house or income to protect.
If you're going to cancel your umbrella, why not cancel your auto and home insurance too? Does it matter whether you owe $1.5mil (without auto ins) or $1mil (with auto ins)?
I'm nearing retirement and I own my home in in California. I am also considering dropping my umbrella policy. I will have a pension, social security, a home with less than $699,426 in equity, and an IRA under $1.5M. Is an umbrella policy necessary if one is judgement proof?
the real answer is how much exposure do you have that might need the umbrella coverage
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