Umbrella Insurance coverage 101 888011000 110888 MoneyTipsUmbrella policies are aptly called, although they have nothing to do with rain or Mary Poppins. Like an umbrella, these policies form an extra layer of broad insurance coverage defense over and above the liability limits of your existing policies. When appropriately constructed, they fill protection spaces in your existing policies and create higher limits for the locations that are covered. An umbrella policy is a relative deal in cost per protection– a policy with $1 million in coverage usually costs around $10 monthly, and greater values are offered for around $50-$75 annually per $1 million increment. Bear in mind that your insurance premiums could also depend upon your credit rating. You can examine your credit score and read your credit report totally free within minutes utilizing Credit M.