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umbrella renewal
Old 06-05-2020, 05:41 AM   #1
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umbrella renewal

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
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Old 06-05-2020, 06:12 AM   #2
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Mine is about $500 for $2M in S. Fla.
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Old 06-05-2020, 06:25 AM   #3
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Quote:
Originally Posted by MrsHaloFIRE View Post
Just got our umbrella policy renewal. We carry $2m. Last year: $273. We bought a new Subaru Forester midyear and it went to $403.
I think that $273 might have been an error by USAA. We live in the same area, also insure with USAA and are paying $348 for $1M.
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Old 06-05-2020, 06:29 AM   #4
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USAA here as well. $2 million umbrella is $614 per year. On the coast of Connecticut. Three cars.
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Old 06-05-2020, 06:32 AM   #5
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Ours is $328 for 2M policy. House ($800K) is actually cheap (@ $465/yr) compared to when we lived in TX. Three vehicles (2016, 2017, 2019), tho I don't see how value of vehicles should impact it much. We have been with State Farm for last 30 years. Our last (and only) insurance claim was in the early 1990s.
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Old 06-05-2020, 06:39 AM   #6
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$2M policy here too. $297 this year, up from the $266 it was five years ago. Flyover (low COL) country.
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Old 06-05-2020, 06:42 AM   #7
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For $1 million and 3 cars in the mid-atlantic, $224/year.


Edited to add: this is through GEICO. The above posts reminded me that I need to check on the premium for a $2 million policy. The quote for me was $370 annually.
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Old 06-05-2020, 06:45 AM   #8
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As a former underwriter way back in my former career, it seems odd to me that a new vehicle that is not a sports car would affect your umbrella premium. Generally the umbrella policy is rated with two cars, the make and model being irrelevant unless, again, high performance.
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Old 06-05-2020, 06:52 AM   #9
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As a former underwriter way back in my former career, it seems odd to me that a new vehicle that is not a sports car would affect your umbrella premium. Generally the umbrella policy is rated with two cars, the make and model being irrelevant unless, again, high performance.

Things may have changed. When we added a 3rd car (SUV) to our policy last year, our umbrella policy went up by $23 annually.
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Old 06-05-2020, 06:54 AM   #10
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Originally Posted by MrsHaloFIRE View Post
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
It will vary greatly depending on personal circumstances. I don't think getting a couple dozen responses here will tell you much.
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Old 06-05-2020, 06:57 AM   #11
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Over 1k yearly for 2m in Central West Florida for 4 cars, but also includes a 20 year old.
Shopped around last year for cheaper to no avail.
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Old 06-05-2020, 07:00 AM   #12
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$400 sounds totally reasonable to me. That said, there is always the chance that you’ll find something lower if you shop around. It’s highly unlikely though that it will be significantly less, so it may not be worth the effort, especially if you are otherwise pleased with their service.
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Old 06-05-2020, 07:28 AM   #13
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I pay $112/yr for $1M coverage. I am single, no kids, with one F-150 truck. The policy did not change when I moved from my Jeep Grand Cherokee to the F-150. The policy has not changed in price since I initially purchased it 7 years ago.
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Old 06-05-2020, 08:57 AM   #14
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$978 for $2mil in FL.

Getting all new quotes because our homeowners ins keeps getting cancelled and then gets increased significantly by the new company. We haven't had a HO claim in 30+ years (maybe never).

It's a pain but they just keep increasing the rates.

Includes four cars, home plus a rental.
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Old 06-05-2020, 09:20 AM   #15
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$390 per year for $1M coverage. Currently covers four vehicles, one 21 year old college student, one 23 year old recent (last month) college graduate who lives at home.
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Old 06-05-2020, 09:24 AM   #16
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We live in the Phoenix metro area. $170 for 1M coverage with Safeco. One, older model vehicle. No kids at home and no "attractive nuisances", i.e. dog, pool, etc.
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Old 06-05-2020, 09:44 AM   #17
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$220 for $1M. Atlanta burbs. USAA.
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Old 06-05-2020, 09:46 AM   #18
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$3 million in coverage, western Colorado, 2 cars, 2 houses. About $500.
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Old 06-05-2020, 09:50 AM   #19
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We pay $1,141 for $5M with four homes, three cars and two drivers in SE PA. We’re with USAA.
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Old 06-05-2020, 09:58 AM   #20
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We paid $457 for 1M at State Farm. Last week, I dropped the last kid off of our insurance and my agent says it will go down to $167. Two newish cars. Middle of the country.

I'm in the process of shopping for insurance for the first time in 40 years. So far, no luck finding anything lower than what I have.
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