$2m umbrella @$225 annually. Definately worth it
We have $2M of umbrella liability coverage that we pay about $430 per annum for. From some of the other posts, it looks like our premiums might be on the high side, but this could be due to where we live or other underwriting factors.
Just as importantly, we have our personal residence in a trust and all of our material investment assets in LLCs domiciled in Nevis (Caribbean Islands), which has strong asset protection laws. Yes, this adds costs for LLC maintenance fees and tax return preparation, but it dramatically increases the sleep at night factor. All actual investment assets are held by Fidelity in the US, but they are under the umbrella protection of the Nevis LLCs.
Hmm... My umbrella is only for $1M, and I am paying more than $500/yr. Something is wrong!
Pets, teenage drivers, amount of liability on homeowner and auto insurance are factors.I just looked mine up last night. I am at 453 for 1mm. They want 780 for 2mm.
What are the factors that make some on here so cheap. It almost seems unbelievable (one way or the other)
BTW, we are with Farmers.
Pets, teenage drivers, amount of liability on homeowner and auto insurance are factors.
That's the way ours is structured.I can't say for sure but I thought they applied the umbrella coverage to the existing homeowner policy. That policy had to cover up to 300k I think...(don't hold me to it) in liability and the umbrella took it the rest of the way.