Personal Umbrella Insurance The average incurred losses for auto insurance were more than $72,000 in 2014.* For individuals with more assets, excess liability (often called “umbrella”) insurance may give them more confidence that their assets are thoroughly protected. Umbrella policies offer coverage beyond typical auto and homeowners insurance policies and provide additional protection. Usually, policies are offered in amounts ranging from $1 to $5 million. Policyholders can add this excess liability to their current auto, boat, or homeowners policies. Also, umbrella insurance may provide protection for things that aren’t included in the standard policies, such as lawyer fees.Umbrella insurance takes over once the coverage available from standard policies is exhausted. For example, if an auto accident causes $70,000 worth of damage, an auto policy might cover the first $50,000 and the umbrella policy covers the rest (depending on the amount purchased).*“Auto Insurance.” Insurance Information Institute. 2014.