Anyone have an umbrella insurance policy ?

[VatorMan]

Got quoted $ 1 MM coverage for $290 a year. I've never had one before, but it seems like it could be a good idea. I can see getting in a racing incident and having to fight a claim.

Personal umbrella insurance provides $1 to $10 million in
additional liability coverage above the limits of your Homeowner's (including rented investment
properties), Automobile, Motorcycle, RV and Boat Insurance. It also provides coverage for claims
that may be excluded by other liability policies including: False Eviction, False Arrest, Libel, Slander,
and Personal Injury when defined as damage to someone’s reputation.

[GRN ENVY]

When I taught tennis a few years back, I had to pay dues for my certifications. One of my certifications came with a 6,000,000 liability insurance in addition to my own coverage. Mine was for sport injuries or accidents that may happen on the court training somone. I actually just got a letter to renew my certification and insurance for 197 for the year.

[LATB]

Originally Posted by VatorMan

Anyone have an umbrella insurance policy ?

Got quoted $ 1 MM coverage for $290 a year.

Seems kinda high...

Those things are only a few bucks each at Walmart.

[Admiral Blue]

On a serious note, yes I do...and nearly everyone should as well. It is cheap insurance and in today's litigious society, it is nice to have supplemental coverage.

[baddmann]

Originally Posted by Admiral Blue

On a serious note, yes I do...and nearly everyone should as well. It is cheap insurance and in today's litigious society, it is nice to have supplemental coverage.

Same here. Too much at stake not to have one.

[DAB]

Yep. First 1M will cost more than the next M.

Sounds about right. Have ours with our car and home ins. co.

[mrvette]

Decades ago when things were going well, I carried about a meg worth for like 200/year.....

but when shit hit the fan, I dropped it, they can't get blood from a stone, eff it.....

[VatorMan]

Thanks for the replies. I kind of figured that, but it was worth asking.

[dwjz06]

Yep. Good to have. I have it through State Farm. Fee is a little bit higher, but the payment is rolled in with my other policies.

[simpleman68]

was an additional $250 or so a year for 2M coverage. We did have to increase our coverage on auto in conjunction. Not sure if that is SOP or not but it raised our fees another hundred or so.
Scott

[Truck Guy]

We have the same 1M coverage and it's about $300 as well.

[lspencer534]

Don't be without it. Even if you already have, say, a 250/500/250 (thousand) liabilty policy, that's simply not enough. Before everyone rushes out to buy one, be aware that a couple of speeding tickets will disqualify you.

[Kevin_73]

Originally Posted by Truck Guy

We have the same 1M coverage and it's about $300 as well.

Ours is with Allstate.

[onedef92]

Originally Posted by Kevin_73

Ours is with Allstate.

This. Ours is with Allstate, too.

[Datawiz]

Whenever I buy an umbrella, I don't typically add the coverage. It just doesn't seem worth it for a $20 umbrella. If it breaks, I'll just buy a new one.

[GS Ragtop]

I have an umbrella policy through State Farm. At the time, they said it was better/cheaper than having each policy carry individual liability coverage. Made sense.

When planning our move to Florida, I asked for an identical quote on vehicles and the umbrella. The vehicles were slightly higher, but the umbrella policy was 450% higher. Wow.

When I asked, they said it was because of Florida's screwed up legal system, especially regarding illegals driving without insurance.

I thought about cancelling the umbrella because of the much higher cost, but then again, who would know more about covering special FL risks than the company that has to shell out if something goes wrong?

[Aerovette]

Originally Posted by datawiz

Whenever I buy an umbrella, I don't typically add the coverage. It just doesn't seem worth it for a $20 umbrella. If it breaks, I'll just buy a new one.

All of my umbrellas are covered. I had a bad "wind" incident and the loss was severe. The splines were folded backward. Total loss and lesson learned.

All I have left is this picture taken before they hauled it away.

[onedef92]

[mrvette]

Originally Posted by GS Ragtop

I have an umbrella policy through State Farm. At the time, they said it was better/cheaper than having each policy carry individual liability coverage. Made sense.

When planning our move to Florida, I asked for an identical quote on vehicles and the umbrella. The vehicles were slightly higher, but the umbrella policy was 450% higher. Wow.

When I asked, they said it was because of Florida's screwed up legal system, especially regarding illegals driving without insurance.

I thought about cancelling the umbrella because of the much higher cost, but then again, who would know more about covering special FL risks than the company that has to shell out if something goes wrong?

It is NOT just insurance, I can guar AN FREEKING TEE U that......

[Ruffy]

I was quoted $152 but they denied me because of my motorcycle