Umbrella Policy vs. General Commercial Liability

[Jordan Roberts]

Hello,

Insurance has always been difficult for me to understand and I feel like it's all a scam anyway (since they always find ways out of covering stuff). Can someone explain to me the difference between having a $1mil+ Umbrella policy and having a $1mil+ General Commercial Liability policy? I need it explained like a 10 year old, not like someone who has worked in insurance before. 

If I have a $1mil General Liability policy with $2mil aggregate, do I even need an umbrella policy?

Thank you in advance!

[Nam Trang]

I would recommend keeping your dwelling policies as-is and buying a personal umbrella policy to increase your liability coverage. It should only cost a few hundred dollars per year and also benefits your family in other ways. I would suggest contacting an independent agent if you're not already working with one. They will have many options for you.