So Money episode 196, Ask Farnush.

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Welcome to So Money. Welcome back to Ask Farnush everyone. It's Sunday time for part

de of Ask Farnush. Got to a lot of questions yesterday. Several more to

address today. We got questions about umbrella liability insurance.

You've got a question about whether to pay off the second car.

Questions about investing in a Roth IRA. Let's get to it. Let's not waste any time and just start with our first question here from Scott who says

Umbrella Liability Insurance good idea or waste of money.

Okay, so what is umbrella insurance?

Well, it's basically a type of insurance that gives you extra liability coverage.

It goes above and beyond your existing auto or homeowner's policy and the idea is that if there ever is an accident an incident on your property and the person that was involved in the accident or the incident your

accident or the incident wants to sue you, then if the suit

exceeds the limits of your homeowners policy, of your auto policy,

then your personal umbrella policy will kick in and protect you above and beyond.

And so the lawsuit potentially doesn't have to touch any of your existing assets or your future

assets.

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