<prompt> Human: I elected a 300k500k auto insurance, 300k renters insurance, and 5m umbrella insurance which will cost me 1900 annually. I make about 65K a year. Married and have a 2 year old. Live in Chicago, and work as a school staff for the Chicago Public Schools. I just dont want bad things happen and lose everything I worked so hard for. Am I being paranoid? The auto only would run me 700 annually. My networth as of right now is about 50K.  <response>: 5m umbrella is overkill. The renters may be overkill as well. But if it makes you sleep at knight, there are far dumber ways to spend 2k 