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06-18-2017, 06:28 PM
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#21
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Full time employment: Posting here.
Join Date: Jan 2008
Location: Flyover America
Posts: 679
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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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06-18-2017, 06:49 PM
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#22
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Thinks s/he gets paid by the post
Join Date: Mar 2010
Location: Kerrville,Tx
Posts: 3,361
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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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06-18-2017, 06:52 PM
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#23
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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 Quote:
Originally Posted by meierlde
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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And also like auto insurance, your driving record/number of accidents will increase premiums.
__________________
Numbers is hard
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06-18-2017, 07:07 PM
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#24
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Moderator
Join Date: Oct 2010
Posts: 10,723
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I can afford to buy a new umbrella, so mine is uninsured.
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06-18-2017, 07:15 PM
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#25
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,930
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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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06-18-2017, 07:16 PM
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#26
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,930
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Quote:
Originally Posted by capjak
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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Move to Texas (not). Mine is less than $200 a year here.
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06-18-2017, 07:55 PM
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#27
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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Quote:
Originally Posted by capjak
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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You may have risk factors like a swimming pool, teen drivers, trampoline, boats, serving on a board...etc
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06-18-2017, 08:03 PM
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#28
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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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.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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06-18-2017, 11:09 PM
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#29
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Thinks s/he gets paid by the post
Join Date: May 2005
Location: Portland
Posts: 1,713
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06-19-2017, 05:06 AM
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#30
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Full time employment: Posting here.
Join Date: Jan 2008
Location: Flyover America
Posts: 679
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Quote:
Originally Posted by travelover
You may have risk factors like a swimming pool, teen drivers, trampoline, boats, serving on a board...etc
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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.
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06-19-2017, 05:20 AM
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#31
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by capjak
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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Yep.
__________________
Numbers is hard
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06-19-2017, 07:17 AM
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#32
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Recycles dryer sheets
Join Date: Oct 2011
Location: Hillsboro MO / Dunedin FL
Posts: 79
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Quote:
Originally Posted by capjak
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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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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06-19-2017, 07:29 AM
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#33
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Recycles dryer sheets
Join Date: Jul 2016
Location: New Hampshire
Posts: 381
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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.
__________________
Steve
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06-19-2017, 08:22 AM
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#34
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Full time employment: Posting here.
Join Date: Aug 2016
Posts: 770
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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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06-19-2017, 08:42 AM
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#35
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Thinks s/he gets paid by the post
Join Date: Aug 2010
Location: Back woods of Fennario
Posts: 1,170
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Quote:
Originally Posted by Carpediem
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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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.
__________________
"Time wounds all heels...." - Groucho Marx
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06-19-2017, 10:05 AM
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#36
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Thinks s/he gets paid by the post
Join Date: Jun 2017
Location: Western NC
Posts: 4,633
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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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06-19-2017, 02:46 PM
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#37
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Thinks s/he gets paid by the post
Join Date: Nov 2006
Posts: 1,639
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Quote:
Originally Posted by meierlde
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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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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06-19-2017, 06:54 PM
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#38
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Recycles dryer sheets
Join Date: Feb 2017
Posts: 221
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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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06-19-2017, 10:12 PM
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#39
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Thinks s/he gets paid by the post
Join Date: Jul 2007
Posts: 2,487
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Quote:
Originally Posted by Fedup
$5M for $800. Enough that the lawyers will engage vigorously.
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Same here but I think we pay about a thousand, in NorCal.
__________________
Find Joy in the Journey...
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06-20-2017, 06:52 AM
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#40
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2014
Posts: 7,372
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Quote:
Originally Posted by travelover
You may have risk factors like a swimming pool, teen drivers, trampoline, boats, serving on a board...etc
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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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