Although there are pros and cons for both options, they are both great for rain protection. Check out some of the reasons below.
Pro: They can be used to protect against rain as well as an additional piece of clothing to offer you style as well as warmth.
Pro: There are tons of styles and designs that you can choose from in order to match your everyday lifestyle.
Con: They can overheat and if this happens, you are kinda stuck wearing it and having to bear the heat.
Con: Since there are many style options, they can easily go out of style or not seem as great as they once did.
Con: They wear down quickly because you are wearing them as clothing and moving around in them.
Con: They don't cover your legs. Rain jackets will not protect anything except for your head and torso, so your pants and shoes are still left exposed to the rain.
Pro: Umbrellas are classy. They are a classic look and make you seem very upscale if you have a decent umbrella.
Pro: Umbrellas are cheap and they last a long time. A good umbrella will not break the bank and it will last years without breaking or going out of style, so it is a worthy investment.
Con: They are not the best in the wind. Sometimes if it becomes windy, then your umbrella will just toss around in the wind and might even break, so in windy times, it might be better to have a rain jacket.
Con: You do have to carry an umbrella. Whether it is raining and you have to use one of your hands to cover yourself or it stopped raining and you have to just carry it around, you are stuck with it unless you put it down somewhere. They are also easy to forget because a lot of times people leave them at entrances to places and forget to get them on their way out.
Although it is not unwise to have both, we would recommend investing in a nice umbrella because they are classy and they are relatively cheap in comparison.