With all insurance, one wants to make sure that the essential levels and coverages are in place, not necessarily excessive levels and coverages. Excess liability insurance, commonly known as “umbrella” insurance, is somewhat of a misnomer and could easily be renamed “sleep at night coverage”. This coverage is a safeguard from which all individuals, whether considered high net worth or not, can benefit from and we have recommended adding an umbrella arrangement to many clients’ current insurance profiles. Most individuals consider themselves careful investors when it comes to considering risk. These same individuals typically have general property and liability policies, but not everyone has an umbrella policy. Umbrellas are reasonably priced and should be worth a second look. Umbrella policies can be offered and acquired through professional organizations (such as trade or business affiliations), your current place of employment and your current insurance carrier/broker.