umbrella policy

[drlong]

I live in pa. and I need to know if I am worth over $1million is it necessary to have an umbrella policy for maximum liability coverage? What are the guidlines of how much liability coverage is needed? I am a physician coverered for professional liability for over $1million but my auto limits are $300,000 as is my homeowners.

 

[I AM ALWAYS LIABLE]

I live in pa. and I need to know if I am worth over $1million is it necessary to have an umbrella policy for maximum liability coverage? What are the guidlines of how much liability coverage is needed? I am a physician coverered for professional liability for over $1million but my auto limits are $300,000 as is my homeowners.

My response:

How much is your Practice worth?

Take that figure, double it, and then buy an Umbrella Policy in that amount, or more.

Doctor, as of right now, I can tell you without hesitation, that you are woefully underinsured.

IAAL