- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Are umbrella insurance policies even necessary for most people?
Posted on 2/6/24 at 6:28 pm to DiamondDog
Posted on 2/6/24 at 6:28 pm to DiamondDog
quote:
People keep saying this but who is providing these quotes?
If your auto/home insurance company is aggressively attracting business, they give away the umbrella policy.
That may change with how litigious society is heading.
But the $150/yr policy for 2 cars and a home is still out there on occasion (nationwide, travelers, Encompass)
0
Posted on 2/6/24 at 9:09 pm to DiamondDog
I just quoted at RLI for 2 cars and a home. Camee to 322 a year in BR.
Posted on 2/7/24 at 10:07 pm to DiamondDog
quote:Pure Insurance vis-a-vis homeowners policy. Umbrella covers car, home, etc
People keep saying this but who is providing these quotes?
Posted on 2/7/24 at 10:15 pm to SquatchDawg
quote:
#1 You’re paying too much. #2 With the cost of vehicles, health care and liability claims you can blow through $500k in a heartbeat. A friend was involved in a multi car accident he the cost of vehicle physical damage alone was in excess of $200k.
I’m probably way underinsured. I’m not even sure what my policy is on auto but I don’t have anything beyond that.
Posted on 2/9/24 at 8:26 am to Rize
I’m in the business and see the large numbers side of things. In the last 6 years I have had two customers riding around with 50/100 coverages who I convinced to raise limits and buy an umbrella that have both been involved in umbrella claims. Both would be out $100ks. The other 200 I wrote haven’t used any of it but those two saved their arse.
Umbrella rating are based on location, underlying properties vehicles and boats, youthful operators, old operators, and tickets accidents and DUIs. Some are $200/yr some are $1200 or more due to those factors
Umbrella rating are based on location, underlying properties vehicles and boats, youthful operators, old operators, and tickets accidents and DUIs. Some are $200/yr some are $1200 or more due to those factors
Posted on 2/9/24 at 8:46 am to MsState of mind
This thread made me realize I really need to get an umbrella policy. The last thing I want is someone coming after my house or assets.
Posted on 2/11/24 at 10:50 am to StealthCalais11
I see another poster correctly informed you that Umbrellas require higher minimum car coverage. With more than $1M in assets, you need an Umbrella! Depending on how you make your money, you may also need a general liability policy. I have both. An umbrella doesn't cover all types of liability. Ironic!
Posted on 2/16/24 at 8:49 am to DiamondDog
Decided to get a quote after seeing this thread. I already had max auto limits.
$423/year to add $1M umbrella.
Baton Rouge. 2 drivers (myself and wife), primary residence, 1 rental property.
Feels pretty steep reading the thread…
$423/year to add $1M umbrella.
Baton Rouge. 2 drivers (myself and wife), primary residence, 1 rental property.
Feels pretty steep reading the thread…
Posted on 3/4/24 at 12:41 pm to PhiTiger1764
Since this thread isn't too old, I'm resurrecting it. I got a quote to increase my umbrella policy to $5M and was quoted $5K per year. Every article I read says it should be an order of magnitude cheaper. I'm baffled, but I guess all I can do is shop around.
Posted on 3/4/24 at 1:57 pm to DiamondDog
“Be “at fault” when you hit Yo Yo Ma and he needs both his arms are amputated. Then you’ll need an umbrella”
That’s how it was sold to me.
Chances are you won’t hit Yo Yo Ma but you could hit a neurosurgeon, high level executive, etc and need that umbrella.
An attorney or insurance agent can answer those questions for you.
$112/month seems high for $1M
ETA: damnit Royal got me replying to the OP
Yes 5K seems very high. I have $3m and it runs about $55/month
That’s how it was sold to me.
Chances are you won’t hit Yo Yo Ma but you could hit a neurosurgeon, high level executive, etc and need that umbrella.
An attorney or insurance agent can answer those questions for you.
$112/month seems high for $1M
ETA: damnit Royal got me replying to the OP
Yes 5K seems very high. I have $3m and it runs about $55/month
This post was edited on 3/4/24 at 2:00 pm
Page 3 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News