Does anyone know if there is a cooling period to purchase Umbrella policy after a car accident for future coverage? I was in a car accident. Policy report stated I am not at fault but the injured party is claiming against my policy and obtained a lawyer. Suit has not filed. This got me thinking that I should get an umbrella policy for future coverage. My agent think there I have to wait until this is resolved. Is it true? If not, I am thinking of getting Umbrella with other Insurance company.