Do I Need an Umbrella Insurance Policy?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 2 July 2021

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Christy Wright, Rachel Cruze, Anthony ONeal and John Delony.

Transcript

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0:00.0	You're listening to Ramsey everyday millionaires or we talk retirement, building wealth and
0:10.6	outrage just generosity.
0:14.1	Nancy's with us in Birmingham.
0:15.4	Hi Nancy, welcome to the Ramsey show.
0:18.2	Hi Dave, thank you for helping us be better stewards of God's money.
0:22.1	Well thank you.
0:23.1	I'm going, no thanks.
0:24.1	I'm calling today with a question about what you would recommend for the amount of an
0:30.9	umbrella policy to protect your next day.
0:34.7	We do have two kids on our auto policy.
0:37.6	We are everyday millionaires and we just want to make sure that we're making a wise decision
0:43.0	as far as total coverage.
0:45.9	I'd pick up another million as an umbrella policy.
0:48.5	You can do that for usually $250-$300 a year.
0:52.5	Just check with your property and casualty insurance provider, whoever's got your homeowners
0:57.8	in car, be probably the least expensive way to get it.
1:04.6	What that does is it attaches to the top of ads to the liability limits on your homeowners
1:09.6	or your car.
1:11.4	Those things stay in place plus a million is what the million dollar umbrella does.
1:15.9	As soon as someone discovers, if you're in a car wreck and someone discovers that you
1:20.8	have some money, you have a target on your butt.
1:23.5	Yeah.
	...

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