No one likes to be faced with a legal challenge, but these unfortunate circumstances can all too often become a very real problem, especially for business owners and anyone with any type of valuable property or other assets. And the more someone owns, the more likely they are to face at least one lawsuit for almost any reason in their lifetime. Even if a court case is frivolous, the cost of legal defense can be high.

But having a good general plan can protect you against lawsuits and other liabilities that arise from business practices, use of property, and other factors. Such policies are created to pay for what auto, home, boat and other insurance coverages do not cover when your policy limits are reached in the event someone is harmed, injured or killed as a result of using the insured property.

And blanket coverage is considered one of the best values ​​in insurance given that they provide at least $1 million in protection for what typically equates to less than $200 per year. And each additional $1 million in coverage can typically be had for around $100 more per year. Because such policies are secondary and only kick in when existing insurance plans have exhausted their applicable coverage limits, most plans are rarely used and make them very affordable.

Clearly, the more someone owns, such as a business, large house, large piece of land, or other types of property and assets, the more they could lose if they are sued for any reason. And if you own a boat and regularly take friends and others on excursions on the water, there is a very real possibility that someone could fall overboard or be seriously injured if use of the boat results in death or disabling injuries. And that means a strong lawsuit could be filed that could easily bankrupt the insured party if it is not fully protected.

But even those who don’t own a lot of assets could find themselves embroiled in expensive lawsuits and face potential lawsuits far larger than they could ever afford without strong protection. If you cause an accident while driving and someone is permanently disabled that prevents them from returning to work, even a middle-class worker could win a large sum in a court case that could easily exceed any amount the defendant could pay in a lifetime. But for just a couple hundred dollars or more per year, that person could be protected with an umbrella insurance plan.

So when you’re looking for the best way to get affordable coverage to protect yourself against potential bankruptcy or permanent financial hardship due to a court settlement, a good general policy will meet most people’s needs for the least amount of money.