QUICK TIPS: What is umbrella insurance?

SAN FRANCISCO (KGO) -- Did you know that umbrella's aren't just for outdoor dining and rain? I am Michael Finney and this is a 7 On Your Side Quick Tip.

There's a thing called umbrella insurance and you really need to know about it especially if you live in the Bay Area and are working on your 401k. Umbrella insurance sits on top of your homeowners and your car insurance.

It takes your level of liability coverage from say three-hundred thousand dollars to a million dollars. Now this is really needed here because if you get sued in the Bay Area, they are going to be asking for a million dollars or there's a good chance.

So how much does umbrella insurance cost? Well generally about one-hundred fifty to three-hundred dollars per million dollars of coverage. So for about two hundred dollars a year is pretty much what I pay for mine. You can be protected from one of those grizzly accidents, and your family will be protected too.

Take a look at more stories and videos by Michael Finney and 7 On Your Side.