The bigger cost increase for us was going from $300k liability to $500k liability on both home and auto, which was required to be eligible for umbrella coverage. The extra $2M umbrella was peanuts for each dollar of coverage compared to that.
According to our agent, the average wrongful death settlement/judgment in our state is $850k, so even having $500k of liability means you'd be on the hook for a substantial amount.
Of course, umbrella claims are also incredibly rare, hence the relatively cheap cost.
Years ago one of my former coworker's kids hit another driver while distracted and severely injured him. My coworker wasn't able to share the settlement details but hinted it was well north of a million, and this was a case where the other injured driver eventually (thankfully) made a full recovery. Umbrella coverage saved my bosses' retirement and also fairly compensated the victim for all medical, pain and suffering, and lost income.
We pay $230/year for umbrella which is an absolute no-brainer for peace of mind alone.
