Umbrella Policy

A Personal Umbrella Policy provides additional liability protection once the underlying liability coverage in a homeowners, renters, condo or auto policy is exhausted.  It is excess liability protection that provides coverage, not normally available in the underlying policy.  For example, libel and slander lawsuits.  In addition, it also pays for judgment against you and attorney's fees up to the specified policy limit.
In a litigious society, increased litigation costs can easily exhaust normal liability limits of a home, renters, condo or auto policy.  In a depressed economy, people are more likely to pursue claims; sue and go for full judgment.  A Personal Umbrella Policy can help protect your personal assets and "future earnings". 
Some Common Scenarios: