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Umbrella Liability Insurance (Pros (At least an extra $1 million in…

- - - - Bodily injury liability coverage per person
        
        Meaning: Coverage for injuries to other people per person when you are at fault while driving
    - - Bodily injury liability coverage per accident
        
        Meaning: Absolute coverage for injuries to other people when you are at fault while driving
    - - Property damage liability coverage
        
        Meaning: Coverage for damage to other's belonging when you are at fault while driving
      - Medical benefit coverage
        
        Meaning: Coverage for your medical needs related to the accident regardless of who is at fault
        
        Except if you have "Combined first-party benefits coverage"
  - - - Covers: Physical injury & property damage
    - - Covers: Suits & defense costs
    - - Combined-limit
        
        Meaning: There is a lump sum that the insurance will pay for all liabilities
      - Split-limit
        
        Meaning: Each specific liability has its own maximum
        
        Most Commonly Recommended
- - - - Damage to other structures you own (like a garage)
      - Your possessions at home or otherwise
      - Living expenses if your property becomes unusable
      - If you hurt someone or break their property
      - Additional coverage for expensive 'luxury' items (like technology or jewelry)
      - Damage to your home
    - - Flood
        
        Key points of insurance
        
        30-day before it come into effect
        
        Can happen anywhere, even the top floor of an apartment building
        
        Can be purchased even if you're not in a floodplain
      - Earthquake