The more money and assets you have, the more vulnerable you are to lawsuits. While typical home insurance policies do offer liability coverage, those coverage levels may be unrealistically low for high net worth individuals. In that case, consider picking up an umbrella policy for extra coverage. An umbrella policy sits on top of your existing home insurance policy and kicks in where the basic policy’s coverage runs out. For example, if your home insurance policy covers liability expenses up to $100,000 and you get an umbrella policy with coverage up to $1 million, then the home insurance policy will pay for the first $100,000 in lawsuit expenses. At the same time, the umbrella policy will cover everything from $100,001 to $1 million in lawsuit expenses.