Do I Need Umbrella Insurance?

[@collectionofcells8656]

Always buy Umbrella Insurance, never know when your gona leave it in a cab or it gets blown away

[@GrnXnham]

Reading these comments made me realize I had no clue so many people didn't know what an umbrella policy is!

[@CharlotteG754]

Yea first time hearing about it - that’s why I’m here - to financially educate myself!!

[@FlexSZN23]

Umbrella’s are pretty cheap, I just buy a new one when mine breaks, no need for insurance!

[@NicE-jq3wv]

😉

[@blackworldtraveler3711]

It is insurance.

[@edwinf9999]

I use ponchos.

[@jimmyboy1582]

I find mine in public areas

[@ronaldcliffin9020]

Lol!

[@TheY2AProblem]

Ok so umbrella insurance clearly isn’t what I think it is. Like how a poop deck isn’t what it sounds like. Which is why I’m not allowed on a Disney Cruise anymore.

[@Kablemodem]

You need Umbrella insurance if you have a valuable collection of umbrellas.

[@DrogoBaggins987]

Dad jokes are wonderful.

[@fleiteae]

Reported.

[@ThePeterDislikeShow]

@@Kablemodem Could come in handy if it become an attractive risk. E.g., a neighbor child comes to look at your collection of umbrellas and accidentally opens one and gets whacked in the eye and becomes blind in one eye.

[@chiacollins7057]

This is so nice to watch this umbrella insurance has very good collection

[@edwinf9999]

Umbrella insurance is way less than $200 a year. After getting injured by a very underinsured driver. I upped my auto insurance and bought umbrella insurance. Well worth it, most people never have heard of it.

[@jimroscovius]

@Ivan Salazar That's wrong. It covers over and above your regular policy.

[@jimroscovius]

@Ivan Salazar Of course it doesn't - that's not what an umbrella policy is for. It covers over and above my home/auto policy if someone comes after me. That's what it's for. If someone falls on my sidewalk and the idiot wants to sue me, the umbrella policy covers me over and above my home policy.

[@insideoutsideupsidedown2218]

Depends on what and who is being covered. Mine is $60 a month.

[@thesmockinggunYT]

Umbrella insurance wouldn't cover you if someone hit you. It's a liability only. Meaning it only covers you if you caused damage to someone or something you don't own. It kicks in if the liability on your auto\home is exhausted first.

[@tinalindsey1598]

Didn't mention that when you take out umbrella insurance it automatically increases ALL your premiums because when you need to utilize it you have to use all other coverages first. I cancelled ours because of that.

[@NicE-jq3wv]

Good to know

[@swackhammer2139]

I have one, but it didn't increase my policy premiums at all. But it is true it only covers what your other policy's don't. It's insurance for high dollar worst case incidents that would otherwise take everything you own.

[@dexterm1285]

You have to have the maximum limits for atleast auto not sure on home before you can purchase an umbrella.

[@blackworldtraveler3711]

The only thing Dave need to mention is many of you learn to read documents before signing them.

[@00177454419]

thats not exactly true. The umbrella insurer will require a certain amount of liability coverage from your basic auto and homeowners insurance. If you're carrying a minimum liability auto policy, you will certainly be required to increase those limits. But just buying umbrella insurance doesn't automatically increase your home and auto premiums. It didn't for my wife and I

[@tareshtheentrepreneur1327]

Who is here just curious about the title ?

[@TechWithJayMcCall]

I definitely am! The curiosity was enough!

[@mikesoro5052]

@@blackworldtraveler3711 hi, I was just wondering why you choose to identify yourself as “black world traveler”. I just think it’s a way to separate everyone and use your ethnicity or race as identification. Just a thought.

[@76482]

, my homeowners/auto offered us an umbrella policy, they said it's much cheaper and covers you everywhere, among other addl protections. But they backed out when I disclosed we also have a vacant duplex, told me to give em a call once it's sold 😒

[@TechWithJayMcCall]

This insurance stuff gets tricky. Sometimes it’s hard to know what’s worth covering vs when someone is just trying to upsell you.

[@blackworldtraveler3711]

It's nothing complicated. You're the one who is supposed to know your assets and your net worth.

[@TechWithJayMcCall]

@@justinacase2623 That makes sense but I’m not referring to just life insurance. I’m including business ventures. There is always some guy trying to convince me I need more insurance on some aspect of my one of my businesses.

[@blackworldtraveler3711]

@@TechWithJayMcCall Everyone here don’t say “insurance stuff”

[@TechWithJayMcCall]

@@justinacase2623 Simple. I like it!!

[@tuestlehomme]

Buying an umbrella policy is all dependant on who you are and what you do.

[@IzzyMakesMusic]

Chris always practicing the abc’s of selling. I love it. Hopefully he gets a commission from the traffic he drives for Dave.

[@ktsterlin9304]

I’m just spit balling here but I doubt it.

[@davivaz6114]

That's true, i found Dave because of Chris.

[@RFire007]

Chris and his kids and his grandkids are set for life, i don't think they are worried about commission

[@midkort]

When you say "worried about" I interpret that to mean "need". It doesn't matter if you need it or not. If you earned it, you earned it.

[@joegadget670]

Is net worth really important when deciding on an umbrella policy? I thought a person’s retirement accounts such as 401k, IRA, pension are protected from lawsuits. Some states let you file a homestead exemption on your personal residence, which also supposedly protects that equity from lawsuits.if most of your net worth is in these investments, then you shouldn’t need umbrella insurance.

[@markhazzard9730]

The best "umbrella Insurance" is an offshore asset protection trust (APT). "Own nothing, but control everything". John D. Rockefeller

[@amylee9]

Are these trusts easy to setup?

[@Ogspotlite]

God bless anyone seeing this comment!

[@Victor-Oluebube]

For financial advice Tell her am your referral

[@dh2profit]

If you don’t have at least a million dollar umbrella and are at fault in a serious accident, the insurance company might just pay their maximum share and leave you looking for a good lawyer.

[@BRIANDER100]

does anyone have any more info on the LLC's and trusts dave was talking about ?

[@eavening4149]

Check with your secretary of state and an incorporation lawyer

[@mmcgahn5948]

I have a $2 mil Umbrella policy.... $392 annual payment. Worth the peace of mind.

[@morgankennedy7591]

Hi Can you recommend a good company to get your umbrella policy through?

[@om617yota8]

I was shocked at how inexpensive a million dollars umbrella coverage for home and auto was. Between that and the stats from my insurance company saying that 13% of claims they pay out go over $1M, and it was just dumb not to have that extra coverage.

[@morgankennedy7591]

Can you recommend a good company to get your umbrella policy through?

[@om617yota8]

@@morgankennedy7591 Checking with your existing insurance company would be the best place to start.

[@FrugalFam1]

That's when you know you made it ..when you need to upgrade from a [rain] umbrella, to the actual insurance policy 💪

[@erv.7663]

Besides the umbrella insurance advice was an additional gem 💎

[@alienresearchlab]

I wanted to buy a $2M umbrella policy but it turned out it was cheaper to raise the property and auto liability insurance to $1M each. Not exactly the same thing since they are in their own insurance buckets but worth considering.

[@alienresearchlab]

@@justinacase2623 Will do.

[@kellyy9349]

Renter flooded the unit below. the umbrella policy came in handy.

[@philly799]

Insurance agent here.. umbrella premiums up to $10m are a bargain, and extremely costly above that amount.

[@Victor-Oluebube]

For financial advice Tell her am your referral

[@morgankennedy7591]

Can you recommend a good company to get your umbrella policy through? I need to get two.

[@CalebsRightNut]

Rli or personal umbrella are great stand alone umbrella policies. Most carriers require umbrella through the same company but those options above fit. ​@@morgankennedy7591

[@CarlosRodriguez-hb3vq]

My umbrella policy went from $700 to $4,000 a year for $1 million in coverage. Two minor accidents in my family over the last 2 years. I’m gonna drop it and look for other ways to protect my assets

[@NaNa-lt1po]

Love that dave voice

[@LetsTalkPersonalFinance]

Umbrella 🌂 insurance is an absolutely must for me! I always loose my umbrellas so it really comes in handy

[@todd2456]

*lose

[@andybribi7318]

Wrong Can pierce you if you commit fraud or there is injustice! Yes it’s the safest liability wise but if your at fault in an accident and kill somebody due to your negligence they coming after you and going to pierce

[@rpenmark1776]

Umbrella insurance is the best insurance nobody has heard of. Every American Ins company offers it but you never see it advertised. If you have any assets at all you need it. It's cheap- We have $1 million policy for $137 a year. I call it 'peace of mind" policy as I know if someone comes after me with legal action, I have this to help protect me and my lifetime assets

[@justinnernsuan4040]

How do you have your so cheap. Which one do you have? I currently pay $1000 annually through Farmers. Do you have to get home and auto through same insurance company also?

[@rpenmark1776]

@@justinnernsuan4040 umbrella insurance $1k? That sounds crazy expensive. I have had umbrella with geico and now state farm. You need to check around

[@mowerds33]

Dave's face when he messed up the new show name got me to laugh. It's going to take a while to get that one right.

[@PCConditioning]

Has he ever said on air why they changed the name of the show?

[@mowerds33]

@@PCConditioning I couldn't find anything, I just noticed this change recently. I assume with co-hosts everyday now ect, that someday Dave will retire, or semi retire, and the other personalities will run the show, so it makes sense to change the name.

[@lilarose9348]

My umbrella policy is 1,900 a year. Please share where to get a low cost policy.

[@ee.es00]

Are you sure thats umbrella? Its usually under $300

[@coastalhillbilly3419]

Mine went up from $300 to $800 for a million dollar policy from State Farm when my teenager started driving. One problem though, we have to carry 300k-500k on any vehicle we have. Car insurance policies are pretty reasonably for having a teenage driver on my 2017 Toyotas but when I priced insurance on sake rockets even a low cc CBR 600RR, (12k motorbike) they want $3000 a year for just me 😮 40 years been licensed with motorcycle endorsement whole time, perfect driving record. I’d imagine any hi-line or expensive cars or SUV would be stupid money too

[@ee.es00]

@@coastalhillbilly3419 hm. Maybe you can get the umbrella policy through your home insurance.

[@lilarose9348]

@@ee.es00I double checked but it’s high because 2 of my kids are drivers on the policy and they’re in their early 20’s

[@NaturallyNerdeeNicol]

"own nothing control everything"

[@KeenxLimit]

I must be the only one who doesn't find the umbrella jokes funny.

[@McMurica]

Or maybe they're annoying.

[@afridgetoofar1818]

The first one I read was funny, but thereafter I had to roll my eyes.

[@miriambertram2448]

Great jokes, thanks everyone

[@chiacollins7057]

This is so amazing umbrella insurance is so nice that I will like to be part of it

[@GardenerEarthGuy]

If you drive a 20 year old pizza delivery vechicle- finding some type of umbrella to cover it from water leaks is probably a good idea. Those old pizza delivery cars leak, so why not cover it with some type of tarp? Moldy cars don't hold their value...

[@quincg7546]

what in the world is umbrella insurance

[@migu003]

Insurance for your umbrella

[@djpuplex]

Anybody ever get insurance companies to make you whole after "something happens" minus your deductibles. The adjuster and insurer will 🔩 you.

[@blackworldtraveler3711]

Never had to make a claim for home and auto which is why I try to self insure as much as I can and avoid all warranties.

[@Paul-ou1rx]

Oh. Wa..what baby step is this? I'm working on two.

[@eddie1975utube]

This black guy has a phenomenal voice. Also clarified things eloquently.

[@zunedog31]

Umbrella is usually a great deal

[@paddyballgame]

You get a ton of coverage for very little money

[@jeffdorris5321]

Nice work 🌠✨🎇

[@wa2k99]

I legit thought... you know...

[@Gelovan682]

trusts dont protect anything. just sue the trust.

[@SalcoderPlus]

Yes

[@PipelinePunch-qf9mc]

Dave Ramsey is Visa's worst nightmare

[@mikenyikes4943]

Under my umbarellaa ella ella ay ay ay ay!

[@cherylcampbell7495]

I had one when I had a pool. Recommend. Half a million on home insurance. Homestead act can only take one hundred thousand, I think.

[@Victor-Oluebube]

For financial advice Tell her am your referral

[@ffletch5277]

He didn’t answer the callers question.

[@BunkMasterFlex77]

Is pizza insurance worth buying?

[@justinelliott4087]

I can fix that problem you had three seconds into the video. Just give me a thousand bucks every time you say “Dave Ramsey show.” ;) That will fix it. Thanks for all y’all do!

[@jorgeramirez4297]

Came here to make a joke about umbrellas being insured, but comments got me covered.

[@Victor-Oluebube]

For financial advice Tell her am your referral

[@luckeychuckey70]

So do I need!???

[@PhotoPhreak17]

Dave just realized at the intro that he said it wrong since they changed.

[@PCConditioning]

Has he ever said on air why they changed the name of the show?

[@omaxman1]

I was hoping to hear at what point you need umbrella coverage is general

[@As_A________Commenter]

When your net worth exceeds the liability coverage of your existing insurance. Many people have a lot of “things” but they have a negative or very small net worth because of what they owe. As the pendulum swings the other way and you outright own more than the liability limits of your home or car insurance, then umbrella makes sense

[@PoconGaming]

The Ramsey team must've gotten a clickbait consultation

[@CaseyBurnsInvesting]

If Dave offends me on a call I’ll sue.

[@NicE-jq3wv]

Then that makes a true millennial! 😂😉

[@appleforever6664]

Can I sue you for a stupid remark?

[@01crs1]

Dave who?

[@davidrave563]

do they offer insurance if people discover you're a heartless grifter?

[@PlasticPellets]

February 13th is a holiday

[@Je.rone_]

Leave your Best umbrella puns below

[@email5023]

It is raining umbrella jokes...

[@sammyc7565]

No but you need rubbers.

[@tomdrummy4984]

I think umbrella insurance is.......a raincoat. 🤣 Sorry, had to do that

[@bobole6385]

Dave...get on the joe Rogan podcast

[@G-007]

You don't need umbrella insurance! It's just another rip off to get more $ from you!

[@ClaxtonBay123]

That's just your opinion

[@teddybacon8144]

First!

[@josepioquinto2472]

You beat me to it

[@zunedog31]

Hush

[@johnmirbach2338]

😁👍👌🖖 ✌😎

[@jordanlako3843]

Is a joke ?

[@NicE-jq3wv]

Y’all really need to educate yourself. This is embarrassing

[@blackworldtraveler3711]

This is serious.

[@josepioquinto2472]

2nd

[@funnygaming2672]

The title is a joke, right? RIGHT!!!?

[@NicE-jq3wv]

No...but you clearly are

[@ClaxtonBay123]

No you being uninformed is a joke

[@Jon_Doe]

juss say insurance your not coo bro