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Old 06-18-2017, 07:28 PM   #21
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Where do you guys find umbrella insurance so cheaply, currently paying $550 per year for $1 Million asked for $4Million quote and it was $1400?
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Old 06-18-2017, 07:49 PM   #22
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It depends on the state and the age of drivers of cars. If you have teenagers the premium will increase just like on auto insurance. Multiple cars and drivers will also increase the premium, as well as city versus country.
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Old 06-18-2017, 07:52 PM   #23
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It depends on the state and the age of drivers of cars. If you have teenagers the premium will increase just like on auto insurance. Multiple cars and drivers will also increase the premium, as well as city versus country.
And also like auto insurance, your driving record/number of accidents will increase premiums.
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Old 06-18-2017, 08:07 PM   #24
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I can afford to buy a new umbrella, so mine is uninsured.
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Old 06-18-2017, 08:15 PM   #25
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This must be one of the most FAQ's (frequently asked questions) on this site. I know I see it several times a year. But I guess a reminder does hurt. I've had a 1m policy for decades but I may increase it next time around. A million just doesn't buy what it did 10 or 20 years ago.
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Old 06-18-2017, 08:16 PM   #26
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Where do you guys find umbrella insurance so cheaply, currently paying $550 per year for $1 Million asked for $4Million quote and it was $1400?
Move to Texas (not). Mine is less than $200 a year here.
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Old 06-18-2017, 08:55 PM   #27
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Where do you guys find umbrella insurance so cheaply, currently paying $550 per year for $1 Million asked for $4Million quote and it was $1400?
You may have risk factors like a swimming pool, teen drivers, trampoline, boats, serving on a board...etc
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Old 06-18-2017, 09:03 PM   #28
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Ours is with USAA, $267 for $2 million. I increased it last year, and going from $1M to $2M only cost an extra $80 per year which made it an easy decision.
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Old 06-19-2017, 12:09 AM   #29
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I can afford to buy a new umbrella, so mine is uninsured.
Smart, very smart. But do you have lightening strikes umbrella insurance

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Old 06-19-2017, 06:06 AM   #30
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You may have risk factors like a swimming pool, teen drivers, trampoline, boats, serving on a board...etc
Only a 23 YO driver with 2 accidents in 12 months and lives in the city. I suspect this may be the reason.
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Old 06-19-2017, 06:20 AM   #31
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Only a 23 YO driver with 2 accidents in 12 months and lives in the city. I suspect this may be the reason.
Yep.
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Old 06-19-2017, 08:17 AM   #32
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Where do you guys find umbrella insurance so cheaply, currently paying $550 per year for $1 Million asked for $4Million quote and it was $1400?
Currently I pay $307.00 for 2M and will be increased to $409.00 per year for 3M. Seems like a pretty good deal for less than $10.00/month increase. May be worth it.
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Old 06-19-2017, 08:29 AM   #33
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My $2M policy is $294 with Amica - I am in NH, and no young'uns in the house. It does require certain minimum liability values on the auto and home policies.
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Old 06-19-2017, 09:22 AM   #34
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Do any of you who have an umbrella policy also own rental properties? We own two vacation properties and if I recall, the company I was talking to either wouldn't/couldn't write a policy or the cost was too great.
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Old 06-19-2017, 09:42 AM   #35
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Do any of you who have an umbrella policy also own rental properties? We own two vacation properties and if I recall, the company I was talking to either wouldn't/couldn't write a policy or the cost was too great.
We own a 2nd home and Allstate was not very interested in my business if we rented the other one out (vacation or long-term). I was already in the risky pool with two young men of dubious driving records on the policy.
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Old 06-19-2017, 11:05 AM   #36
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$500 for $2 million, and that's after being forced to raise auto to $500K/$500K.

Time to talk to GEICO for auto/umbrella...
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Old 06-19-2017, 03:46 PM   #37
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It depends on the state and the age of drivers of cars. If you have teenagers the premium will increase just like on auto insurance. Multiple cars and drivers will also increase the premium, as well as city versus country.
Yup, my $2 million policy went from $275 to $900 when I added my 16yo DS to our auto policy. I had to drop back down to $1million just to get it back down to $500. He's 19yo now, so maybe it will get better. I'll be rich once my last kid is off the payroll!
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Old 06-19-2017, 07:54 PM   #38
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We're paying $1100 for either 2 or 3 million. It went down significantly when my 24 year old son went out on his own.

We have one left that we are paying for and once she is on her own I expect our umbrella to go down again-plus she'll be on her own for car insurance.
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Old 06-19-2017, 11:12 PM   #39
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$5M for $800. Enough that the lawyers will engage vigorously.
Same here but I think we pay about a thousand, in NorCal.
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Old 06-20-2017, 07:52 AM   #40
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You may have risk factors like a swimming pool, teen drivers, trampoline, boats, serving on a board...etc
Be careful on the board memberships. I served a couple of terms on the Board of my professional society and they told me that any liability arising out of my Board membership was not covered. It may be because it was employment- related, but now I have to check on whether my HOA Board membership is covered. Should be easy- my agent is the head of the HOA Board!
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