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Personal Umbrella
Posted on 2/19/25 at 8:20 am
Posted on 2/19/25 at 8:20 am
I currently have $1MM coverage through ASI, and decided to shop additional coverage, possibly an improved rate. I meet or exceed all coverage limitations, no violations, etc. Best rate I’ve been quoted on $1MM coverage so far is $629/year; $1,777/year for $5MM. The worst was $1,900/year for $1MM. I currently pay $408 with ASI.
Has the insurance industry lost its collective mind?
Has the insurance industry lost its collective mind?
11
Posted on 2/19/25 at 8:28 am to GeauxldMember
I have a $3M umbrella policy with USAA. It’s $480 per year.
However, I did have to increase some coverage limits on auto/home so it did cost me more than just the $480.
However, I did have to increase some coverage limits on auto/home so it did cost me more than just the $480.
Posted on 2/19/25 at 8:33 am to GeauxldMember
man you guys in LA get screwed every which way by insurance, the risk to get sued must be infinitely higher where you live.
1M coverage through Alfa in Alabama is less than 300 a year.
1M coverage through Alfa in Alabama is less than 300 a year.
Posted on 2/19/25 at 8:37 am to kaaj24
I have a $5M umbrella with USAA. It's $2400 a year. The student driver probably doesn't help.
To answer the OP's question. Yes, the insurance industry has lost its mind (exclusions for CA).
To answer the OP's question. Yes, the insurance industry has lost its mind (exclusions for CA).
Posted on 2/19/25 at 9:15 am to GeauxldMember
$1MM through state farm costs me about $110/yr.
Posted on 2/19/25 at 10:11 am to notsince98
quote:
$1MM through state farm costs me about $110/yr.
fricking jealous. Jesus. No student drivers, no pool, no trampoline, etc in LA was $640 with GEICO for $1mm
Posted on 2/19/25 at 10:19 am to slackster
yea louisiana umbrella rates are nuts. I'm in for $950 for 2m umbrella and 1m uninsured motorist.
Posted on 2/19/25 at 10:33 am to slackster
quote:
No student drivers
We'll see if that impacts anything. My oldest turns 14 soon and that is permit age here in KS.
Posted on 2/19/25 at 10:40 am to GeauxldMember
quote:
Has the insurance industry lost its collective mind?
As someone who works in the insurance industry, I feel like I fight this battle daily. Insurance is a market. It fluctuates based on market factors. The US judicial system has lost its mind.
Personal lines is particularly hot right now. I assume that you area in Louisiana, which is a judicial hell hole. If you get in a wreck, even if you are not at fault, and the other person sues, their lawyer is going for the full limit of whatever policy you have.
ETA: we have established a system of wealth transfer in this country through the legal system. This does not exist anywhere else in the world to the degree that exists in the United States. There are more civil suits in the US than the rest of the world combined.
What blows my mind, is that even otherwise honest, middle class people that I know look at any sort of accidental injury as a chance to cash a check. Every lawyer in Louisiana is like “oh you fell at Walmart. I can get you $50,000 easy“
This post was edited on 2/19/25 at 11:02 am
Posted on 2/19/25 at 11:02 am to GeauxldMember
Was paying $475 for $1M 2 years ago. As soon as I because a business owner, jumped that policy up to $5M. My renewal is due in April for $1,900. Would be $629 for $1M
Edit: My policy is with RLI
Edit: My policy is with RLI
This post was edited on 2/19/25 at 11:03 am
Posted on 2/19/25 at 11:04 am to mule74
We had drastic increases in our umbrella at work. They told me umbrellas are getting hit all the time now when it was pretty rare in the past.
I'm not sure if that is the same for personal umbrellas also but I would be surprised if it wasn't.
I'm not sure if that is the same for personal umbrellas also but I would be surprised if it wasn't.
Posted on 2/19/25 at 11:25 am to GeauxldMember
Progressive about $575 for 2Million
Posted on 2/19/25 at 12:47 pm to GeauxldMember
mine went from like 600 to like 1200 for 1m in 3 years with allstate. please put your carriers and the amount of coverage so we can compare because I am ready to look elsewhere.
This post was edited on 2/19/25 at 12:48 pm
Posted on 2/19/25 at 1:03 pm to Enadious
$715 for 3M + $500k is on HO policy with State Farm. Since the CA bullshite it has gotten difficult as hell to obtain HO insurance in the Santa Fe area. I also blame the USFS dumb asses for starting supposed "controlled burns" 3 years ago in Calf Canyon and Hermits Peak fires when the state told them not to as it was a severe risk at the time due to winds and very dry conditions and they both went out of control in less than a week and took 4 months to put them out. Can't help stupid people.
We are buying a new house in Santa Fe and State Farm went to lock in insurance for us and the system kept kicking it back and would not write a new policy. I called to other companies with the same response and called a broker who got us a policy with Travelers but it took her 6 different calls to obtain a policy. I don't see it improving anytime soon.
We are buying a new house in Santa Fe and State Farm went to lock in insurance for us and the system kept kicking it back and would not write a new policy. I called to other companies with the same response and called a broker who got us a policy with Travelers but it took her 6 different calls to obtain a policy. I don't see it improving anytime soon.
This post was edited on 2/19/25 at 1:05 pm
Posted on 2/19/25 at 2:17 pm to GeauxldMember
Everyone sues everyone here. I sued my mother for whipping me as a kid and my wife is currently defending herself against my lawyer for refusing blowjobs on demand. The mental anguish is through the roof.
Posted on 2/19/25 at 2:21 pm to GeauxldMember
$3m policy for $600 a year issued by AutoOwmers
GA resident
Two teenage drivers
GA resident
Two teenage drivers
Posted on 2/19/25 at 3:31 pm to TDsngumbo
quote:
my wife is currently defending herself against my lawyer for refusing blowjobs on demand
If only this was the OT…
Posted on 2/19/25 at 4:21 pm to GeauxldMember
quote:
Has the insurance industry lost its collective mind?
Yes.
Posted on 2/19/25 at 4:26 pm to mule74
quote:
As someone who works in the insurance industry, I feel like I fight this battle daily. Insurance is a market. It fluctuates based on market factors. The US judicial system has lost its mind.
Personal lines is particularly hot right now. I assume that you area in Louisiana, which is a judicial hell hole. If you get in a wreck, even if you are not at fault, and the other person sues, their lawyer is going for the full limit of whatever policy you have.
ETA: we have established a system of wealth transfer in this country through the legal system. This does not exist anywhere else in the world to the degree that exists in the United States. There are more civil suits in the US than the rest of the world combined.
What blows my mind, is that even otherwise honest, middle class people that I know look at any sort of accidental injury as a chance to cash a check. Every lawyer in Louisiana is like “oh you fell at Walmart. I can get you $50,000 easy“
This is a really insular way to look at the insurance problem in Louisiana and basically suggests that insurance carriers just stand ready and willing to deal with their policy holders fairly and reasonably, which is absolutely not the case. An attorney isn't going to go for the "full limit of whatever policy you have" if you have 250/500/100 and you were in a fender bender that broke your nose. If you wound up having to have a spinal fusion and the person that smoked you has 15/30/25, then it's impossible to proceed against the carrier in any way other than for "full limits."
The insurance climate in Louisiana is predatory at worst and broken at best, and it's not only a "judicial system" problem.
Posted on 2/19/25 at 4:48 pm to bluemoons
Related but not the exact OP question. How are you deciding the amount of umbrella coverage?
We have $1M but I've considered adding more.
We have $1M but I've considered adding more.
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