Yes. Professionals and business owners need a personal umbrella policy. Business owners need a business umbrella policy too.   If you have assets worth protecting, you need an umbrella policy. It is a form of excess liability coverage that protects your financial freedom in the wake a terrible situation in which you are liable.  Because it acts as a secondary policy to your underlying liability limits from your auto, homes, boats, motorcycle, ATV's,etc. it is relatively CHEAP for the extra security it brings.  A Rough Estimate here:  $1MM umbrella cost you $120-$150 per year.