Only Liability Insurance, unless you can prove financial responsibility and if you can, you are not required to have any insurance:

https://www.investopedia.com/terms/f...bility-law.asp

 

Liability is insurance.

 

^^^^I guess I wasn't clear, sorry about that. See my edit.

 

Hmmmm…..Fascinating…..What Billionaires do you know?

 

Sam Brankman Fried is his buddy. AHhahahahhhah just kidding,.

 

It was recommended to me by both my Attorney And Broker in this sue happy U.S. to have an umbrella insurance policy.
At least here in the Funshine state, those are usually issued by your auto insurer.
AFTER you Max Out the coverage on Both your auto and homeowners policies. My insurance total is around $300 a month. That's for the LC, Honda CR-V, house and umbrella policy. The umbrella itself is actually cheap cheap.
My Attorney's wife was involved in a parking lot crunch. As soon as the other party found out he was a Attorney, they got one of those too And then these New medical issues surfaced. It has been 2 years and that little parking lot bump Still Is Not Settled.
Fla has a homeowners insurance crisis now. It is difficult and pricey to get homeowners here. Shyster roofing companies get homeowners to sign over their insurance rights to the roofer for A Free New roof. When the insurance company turns down the new roof for the worn out 20 year old storm damaged roof, the roofing company sues them "for the homeowner". Fl has 10% of the countries homeowners insurance. We have 80% of the countries lawsuits Against homeowners insurance companies. Homeowners insurance companies are leaving the state in droves. Citizens Insurance, the state run insurer Of Last Resort, when no one will write you a homeowners policy, now insures about Half the homes in the state.
Bruce in Floriduh

 

^^^^I've had an Umbrella since I bought my first house in 1965. Last month I raised it too $2Mil.

 

Insurance companies can only average out so much of a loss. Coastline properties being the worst. If you check, Malibu Colony, one of the most expensive areas in Calif to live, offers none as they threw in the towel over $million replacement houses.

You live there at your own risk.

 

I am insured with GEICO and State Farm…..I pay more than double that $300 you quoted. Being that FLA is such a high risk state….I would think you would have to pay more.

 

So what do both insurance companies offer you in the way of coverage? Why do you need 2?

 

My autos are with GEICO and my house with State Farm. Each has tried to combined…But didn’t see any significant savings.

 

Ahhh, So your home insurance covers your car in some way?

 

What’s the confusion…Each offers individual car and home insurance policies or bundling.

 

I own a home and my home insurance has nothing to do with my automobile. Just asking how your insurance covers your aurto?

 

I have AAA as well.
It has ZERO to do with the body shop transporting to and from LEXUS for the sensor recalibration.