Personal Umbrella policies provide additional liability coverage for an individual or family. Usually in increments of $1 million, these policies are accessed only after an underlying insurance policy has been “maxed out”. For example, if you are at fault in an auto accident and you lose a lawsuit for $1 million, your auto policy would pay the first $300,000 and then your umbrella would pay the remaining $700,000. Increasing your home or auto liability limits is often much less expensive than you would expect. $1 million umbrella policies can be as inexpensive as $100 per year.