Our current coverage is State Farm $5M for $925.
That is really a good price, I have 3M with CinFin and it’s about $750
Our current coverage is State Farm $5M for $925.
2024 Umbrella policy costs remained the same this year after a couple of reductions after moving to new property in August 2020:
$1 million coverage - rural southern Indiana - 2 people, 2 cars, 1 house, 1 barn
$164 in 2020 renewal date 5/1 every year
$125 in 2021 renewal after moving to rural area
$104 in 2022
$76 in 2023
$76 in 2023 - no change
Probably not. Umbrella insurance is risk-based, and they seem to care about whether you have a swimming pool, trampoline, business on site, number of people at the house, ages, assets, etc. Each driver and vehicle, and other 'risky' asset such as trampolines up the odds that you'll have a claim and use the umbrella policy, which will cost them $.Paying about 800$ a year for 1 mill. Have 5 cars in my name with drivers 28,24 an d 21. I personally have 2 cars. This is with State Farm. Paying too much??
Ours has crept up to $404 for $1M from State Farm. Maybe time to do some shopping...
Where are you all getting these low rates from. Travelers wants $350 for a 1m policy plus require that I up my car and motorcycle coverage to 500/500k. That would add another $300+ to the cost.
Is the $427 in addition to the coverage you're getting through Geico for your cars and boat (and home, I assume)? Would you mind sharing the total cost of all that insurance, broken down into what you're paying for auto, boat, home, etc.?2 cars driven @12Kmi/yr total/combined.
18' boat on a quiet lake.
No claims/low risk policy holder.
2020: $439 for $2M coverage
2024: $427 for $1M coverage -same premium as for $2M in 2020!
Geico.
Earned "accident forgiveness" on cars -but Geico's rising premiums make that carrot less appetizing -will be shopping for a better deal on all policies.
Would you mind sharing how much you're paying State Farm to insure you home and your car, in addition to the umbrella portion? I feel like I'm already paying a lot for those without umbrella, so if I added umbrella my overall insurance costs would be WAY higher than they are now.Mine was $755 for $3 million, also with State Farm. One house, one car, nothing else presenting a major risk, KC suburb. I suppose I should shop next year but a had an at-fault fender-bender and a speeding ticket within a month of each other late last year after decades of a perfect record. I should have used Cruise Control on my drives to and from Des Moines 3 years ago when I got the car. I do now.