umbrella renewal

[bobandsherry]

$225 for $1mill, Tampa FL area. Written with Traveler's.

 

[Mr._Graybeard]

Man, a couple hundred bucks a year for $2 mil in liability coverage seems like peanuts to me. When I start looking that far down the food chain to cut costs, I'll know I'm in trouble.

As for driving less = less need for liability, I think back to my DF, who started having trouble finding his way home. It's not that uncommon to hear about disoriented seniors getting on the freeway via the off ramp.

 

[timo2]

Ours is $210 per year for a $2 Million policy, one tract home and one vehicle, two drivers. In New Mexico. With USAA.

 

[prototype]

$150 for $1M with RLI. Couple, one house and two cars and two drivers in Eastern North Carolina.

Probably will check on cost to bump it to $2M next time I talk to Insurance Agent.

 

[RetireBy90]

$485 for $2M with USAA. Northern VA, 3 cars and primary home and 1 rental. The Universal was paid for and about $100 left over from rebate we get each year.

 

[Dtail]

$150 for $1M with RLI. Couple, one house and two cars and two drivers in Eastern North Carolina.

Probably will check on cost to bump it to $2M next time I talk to Insurance Agent.

$2m is an often quoted amount to have in order to have enough skin in the game to make it worthwhile for the lawyers to get involved to the fullest extent.

 

[TheRunningMan]

We live in a boring midwest suburban town and pay $365 for $3M with State Farm. We have 1 modest home, two old'ish cars and one adult child still on our auto policy. I'm hoping for a rate reduction when the kid gets off the policy later this year.

 

[Midpack]

$292.03 for $2M. We have a 2018 Outback & a 2019 Accord Hybrid.

Though our auto insurance got the 15% discount w coronavirus, wonder if that will impact umbrella?

 

[Buckeye]

We pay about $250/yr for 2 million in Texas.

Just curious, but when is the right time to drop this type of coverage? Our risks are much less than they used to be with no kids at home, only driving limited miles, DW not driving at all, etc.

I wouldn't drop it until you quit driving completely. I was told once that 85% of umbrella claims are related to auto accidents. Expensive accidents can happen any time the key is in the ignition.

 

[Buckeye]

$216 for $1 million. North of Orlando. 2 cars with low annual mileage and one house. Two adults over 60 with clean records. USAA.

 

[Dtail]

$292.03 for $2M. We have a 2018 Outback & a 2019 Accord Hybrid.

Though our auto insurance got the 15% discount w coronavirus, wonder if that will impact umbrella?

Yeah am wondering that also. Not to mention the most recent "excuses" for our car insurance premiums increasing was that more folks are driving more miles in FLA, so now logically the premiums should go down.

 

[bobandsherry]

$2m is an often quoted amount to have in order to have enough skin in the game to make it worthwhile for the lawyers to get involved to the fullest extent.

Heh, it also serves as an enticement for someone to sue you. Years ago my daughter was involved in accident. Suit was filed against us, reason really unknown. But lawyer for insurance company said that when someone finds a large umbrella policy it just invites them to file a suit, just playing the odds that they get a friendly judge and/or jury. But as you said it also caused insurance company to put a quality attorney on the case to cover their interest. In the end the suit was settled for an amount that covered the medical bills, which wasn't a whole lot.

 

[tps7742]

Our renewal that comes up 7/28 quotes us at 301.00 from Farmers for 1m. They carry all of our insurance.

 

[YeahNo]

I'm paying around $1,000 for $5m via Travelers.

4 cars, two of them are luxury. 1 boat. Live in HCOL midwest suburb.

 

[Van-Guard23]

Can yall share what you pay for how much umbrella? I looked through the forum and found a discussion dated 2014 but nothing recent. Maybe I didnt use the right search terms.

Just got our umbrella policy renewal. We carry $2m. Last year: $273. We bought a new Subaru Forester midyear and it went to $403. This year it remains $403. Does this seem realistic to yall? I looked for a survey of umbrella premiums and haven't seen one yet. Our underlying liabilities are a 100K rental prop, a 400k residence, a beater car and a Subaru Forester. We have USAA and we have all policies with them (yeah I know, theyre high sometimes but they have paid 100pct of the time within a day of loss or so, so we stay with them. Reroofed the rental prop no probs etc etc) Is this just the regular USAA markup, is everyone's this high? What do yall think? We are in South Texas if that's relevant.

THanks

Hmmmm...we carry $5M coverage and our annual premium is $338.48. We live in Central TX and have USAA as well. Our annual premium (same coverage) decreased from $492 when we relocated from HI to TX. We used to be with RLI (they have an affiliation with USAA) but switched to USAA for better rates (we were paying $547 for a $2M coverage in HI).

 

[merlin3942]

$2m in central Indiana with Liberty Mutual went from $365 last year to $407 this year

 

[2cheap2eat]

So I'm not RE yet (prob in next 7 years). I don't have umbrella coverage. Is it worthwhile if I have 100/300 injury coverage on autos?

Also, any experience on insurance companies actually making good on that policy? I had so so experience with Geico on an auto claim (other driver 100% at fault).

 

[drcha]

$375 for 4 million.

 

[msanniee]

$243/year in South Carolina for $2M. No increase for the past three years. In South Carolina the bigger insurance cost is having homeowners and car insurance coverage increased so I can get umbrella insurance.

 

[fireorbust]

1m / 235 yr....2 cars, midwest

 

[SojoMojo]

Single person with one vehicle, no significant insurance claim history, and all my insurance business with State Farm, my $1M PLUP at State Farm (Seattle metro area) is $266 per year.

 

[AutoMc]

We pay $336 per year for 1 million in central Indiana. One house and two cars with State Farm.

 

[ychuck46]

TN chiming in

About $400 for $2M here in TN. We have a truck, an SUV, and two Harleys along with a very large house.

 

[ImaCheesehead]

$419 for 2M thru RLI. We are 58 and 63, full time RVers in a Class A with a Jeep, based out of SD. 3M would have been $559.

 

[Valid not Invalid]

About $650 for $4mm, but I believe rates were based not necessarily on the number of houses and cars, but questions such as kids in the house, whether you deliver or drive for others, type of dogs you own, and perhaps firearms in the house. In Atlanta here, usaa, 7 cars, 2 teen boys, OMY!