Umbrella policy renewal premium increase is 122%

[Cat-tirement]

Guess I can't complain about my increases. Just received notice my $2m Amica policy is going up a bit over 5% this year. Last year it was up 7%.

 

[ARW44]

I went from $1M to $2M umbrella with AAA two yers ago. Price did not change. This year the price doubled. ??

 

[WWDog]

I was shocked as well when I got my renewal but was presently pleased after I got a check in the mail which more than made up for the difference as a long time member with a $1M umbrella.

 

[Kings over Queens]

All our insurance has taken off. I guess my question would be: Where are the State Insurance watch dogs (regulators) in all of this? In theory, all premium increases must be "justified" to the watch dogs. It sounds like the watch dogs are simply signing off on all the increases.

Perhaps, and this is an assumption, but perhaps the data the insurance carriers are submitting to the insurance commissioners supports the rate increases?

 

[Koolau]

Perhaps, and this is an assumption, but perhaps the data the insurance carriers are submitting to the insurance commissioners supports the rate increases?

I suppose that's possible. If so, it would nice for the regulators to present the data to the public.

 

[RetiredAt55.5]

Perhaps, and this is an assumption, but perhaps the data the insurance carriers are submitting to the insurance commissioners supports the rate increases?

I'm assuming the increases would have to cover, at least, added costs due to tariffs and inflation and especially rising healthcare costs.

In theory, those should cause costs/rates to increase yearly, assuming the number of claims are the same year to year.

 

[Kings over Queens]

I suppose that's possible. If so, it would nice for the regulators to present the data to the public.

If you search for "insurance rate filings" in your state you can find the info that the insurance company presents, in both application for rates (premiums) and policy documents. It's out there, will take some digging around, but it's there.

 

[Kings over Queens]

I'm assuming the increases would have to cover, at least, added costs due to tariffs and inflation and especially rising healthcare costs.

In theory, those should cause costs/rates to increase yearly, assuming the number of claims are the same year to year.

I don't know about Tariffs but projected health care costs would factor into the equation, as does inflation. It costs tons of money to defend lawsuits and there has been a seismic shift in that regard. One of my clients, a personal injury attorney, joking complained once "this business used to be pretty easy, you could get a decent offer from the carrier, now you have to work for it."

 

[Stormy Kromer]

I don't know about Tariffs but projected health care costs would factor into the equation, as does inflation. It costs tons of money to defend lawsuits and there has been a seismic shift in that regard. One of my clients, a personal injury attorney, joking complained once "this business used to be pretty easy, you could get a decent offer from the carrier, now you have to work for it."

As an insurance consumer......that sounds good to me.

The first line in a liability policy states something... like the insurer's duties are "to defend" That is the most important reason to have liability insurance. Defense coverage. The insured's duties are to "pay the premium" and in return the insurance company's duties are pages long. Liaibility insurance is a bargain in today's society. I'm glad I can get it.

$5 M umbrella for $665 a year. Two cars, 400 acres of farmland, a boat and 4 wheeler. This is with a regional insurance company in the upper midwest.

 

[Buckeye]

I dropped State Farm recently after 10 years, and I found out from my new agent that SF never did cover (or even offer) protection from underinsured motorists on my $2M umbrella policy. I thought umbrella meant umbrella. Yes, the auto insurance portion covers up to a bit, but not anywhere up to the umbrella limits. Apparently SF only covers liability up to $2M. When I switched to Auto Owners Group, the premium doubled to $600, but now I am actually covered for UIM.

So, would UIM cover someone in your car suing you and the person who caused the accident was under-insured? I can't figure out how UIM actually works on an Umbrella policy.

 

[Buckeye]

Perhaps, and this is an assumption, but perhaps the data the insurance carriers are submitting to the insurance commissioners supports the rate increases?

That's a big assumption in Florida where any utility or insurance company seems to get any increase they request! But I know USAA isn't paying stockholders so I assume that the rates are bases on data. The USAA members payout this year took a bit of the sting out of my Umbrella policy increase. I get two annual disbursements because I've been with the company over 40 years.

 

[foxcreek9]

Our $1M umbrella was 224 for 2013-18, 234 for 19 and 20, 290 for 21, 244 for 22-24, and 304 last year. Which means the annual increase was 2.6% from 2013 to 2025, which is pretty close to the CPI.

 

[Stormy Kromer]

So, would UIM cover someone in your car suing you and the person who caused the accident was under-insured? I can't figure out how UIM actually works on an Umbrella policy.

Think of UIM as buying liability insurance limits for what the guy that hurt you should have had in the first place. A simple answer is your UIM will cover you for your uninsured bodily injuries if the other person who caused the accident was under-insured. If someone in your car is suing you, you need healthy limits of BI (Bodily Injury) liability, topped by a healthy Umbrella. If the other driver is underinsured (UIM), your passenger is on their own for their injury.

I suggest finding a good agent who can answer these questions. Not Flo, Geico or the Lemu clowns on TV. Or even free advice here.

Insurance is a serius business. Especially when you need it after an accident. Who do you want on your side, a buch of comics on TV or a person who has an office you can walk into and talk to?

If I am being sued after an accident I don't want Flo, the Geico caveman, Warren Buffett, or that Lemu guy to be my defense attorney.

 

[FlaMariner]

We are in the free state of Florida....

Just got our renewal for our $3 million umbrella for April 2026....very pleased with a renewal that is 8.6% lower than last year.....not used to premiums dropping.

 

[Buckeye]

We are in the free state of Florida....

Just got our renewal for our $3 million umbrella for April 2026....very pleased with a renewal that is 8.6% lower than last year.....not used to premiums dropping.

If you don't mind, who is your insurer? I wonder if my percentage increase was so high because the actual dollar amount of the increase is relatively modest, about $350. You actually have a decrease for 2026-2027 is pretty amazing given what most people are experiencing...and you are in FL!

 

[jdnd9091]

I received my $1,000,000 umbrella policy renewal (for April 2026) notification from USAA today. My annual premium for 1 house and 2 cars went from $299 to $665. I actually burst out laughing. A 122% increase when nothing has changed in our situation. We have the same vehicles, no additional vehicles, no additional dwellings, no tickets, no accidents, no claims on any insurance. Just one year older. And we live in Florida.

Has anyone else with umbrella coverage from USAA and/or in Florida seen such an enormous increase like this? I will call them on Monday and ask what is going on but I'm sure I'll get some generic response like, "Well, costs have increased." I'll see whether they have any other partners who write umbrella policies for them (they used to use RLI) but I'll probably have to shop it elsewhere. The increase just seems bizarre.

EDIT: Corrected price of renewal policy to $665 from $635.

We are paying just over 600 for 2 million umbrella with two houses and two vehicles. I would suggest you check out the Costco insurance carrier.

 

[FlaMariner]

If you don't mind, who is your insurer?

GEICO

 

[Gonzo26]

I received my $1,000,000 umbrella policy renewal (for April 2026) notification from USAA today. My annual premium for 1 house and 2 cars went from $299 to $665. I actually burst out laughing. A 122% increase when nothing has changed in our situation. We have the same vehicles, no additional vehicles, no additional dwellings, no tickets, no accidents, no claims on any insurance. Just one year older. And we live in Florida.

Has anyone else with umbrella coverage from USAA and/or in Florida seen such an enormous increase like this? I will call them on Monday and ask what is going on but I'm sure I'll get some generic response like, "Well, costs have increased." I'll see whether they have any other partners who write umbrella policies for them (they used to use RLI) but I'll probably have to shop it elsewhere. The increase just seems bizarre.

EDIT: Corrected price of renewal policy to $665 from $635.

As an insurance agent, the rates on umbrellas are going thru the roof. My company will not write over 2M umbrella now. It has to go on open market. Too many lawsuits and lawyers

 

[Buckeye]

As an insurance agent, the rates on umbrellas are going thru the roof. My company will not write over 2M umbrella now. It has to go on open market. Too many lawsuits and lawyers

Well, yes, the prevalence of lawsuits and lawyers is why we've been purchasing an umbrella policy for years!

 

[wmc1000]

2026 Erie Insurance Umbrella policy costs remained the same this year

$1 million coverage - rural Southern Indiana neighborhood - 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 2024
$100 in 2025
remained $100 for 2026

 

[frank05]

I know plenty of people who have made claims against their home or auto policies but I don’t know anyone who used their umbrella policy.

 

[pjm-7]

I have been watching this thread for a while now knowing that my renewal was coming up. Well, I got my notice today from Hartford and my $1 million umbrella policy premium more than doubled from $169 to $389. Ouch! I've got some work to do on this issue.

 

[TrvlBug]

Got our renewal...increased 15%.