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Umbrella Insurance
Posted on 2/13/18 at 8:13 pm
Posted on 2/13/18 at 8:13 pm
Anyone know where one could buy an umbrella policy online?
8
Posted on 2/13/18 at 9:00 pm to wildcat3
im looking too and what actually is umbrella insurance?
Posted on 2/13/18 at 9:31 pm to wildcat3
You talking about for a company or for your personal protection?
Posted on 2/13/18 at 9:51 pm to wildcat3
For personal umbrella I shopped everywhere - Best overall price was Shelter Insurance.
Posted on 2/13/18 at 9:55 pm to KillTheGophers
I need it for an oilfield company
Posted on 2/13/18 at 10:20 pm to wildcat3
Check with whoever insures your home and / or auto. It is not very expensive and worth it if you have assets that have to be protected.
Posted on 2/13/18 at 11:04 pm to wildcat3
How expensive is your umbrella? Personally, I’d just self insure but I get mine from Walmart.
Posted on 2/14/18 at 5:23 am to Double Oh
It’s insurance that is meant to protect your assets over and above the limits of your normal insurance. You have to have max limits on all of your exposures (boat, car, House, atv, rv) before you buy it. The policy kicks in if you incur liabilities greater than the max limit for the individual exposure.
I.e. I’ve got 300k limits on my boat. If something bad happens on my boat and I am responsible for a horrible accident and am sued, the first 300k will be paid by my boats insurance policy and anything above and beyond that up to 2 million will be covered by my umbrella.
It was $260/year for my coverage through Auto Owners.
I.e. I’ve got 300k limits on my boat. If something bad happens on my boat and I am responsible for a horrible accident and am sued, the first 300k will be paid by my boats insurance policy and anything above and beyond that up to 2 million will be covered by my umbrella.
It was $260/year for my coverage through Auto Owners.
Posted on 2/14/18 at 8:45 am to AugustaTiger
Can also provide "drop-down" coverage for gaps in your current primary insurance plan.
Umbrella insurance is becoming increasingly more necessary in a world like today's where judges are handing out settlements like candy.
Umbrella insurance is becoming increasingly more necessary in a world like today's where judges are handing out settlements like candy.
Posted on 2/14/18 at 1:50 pm to wildcat3
quote:
Anyone know where one could buy an umbrella policy online?
Unless you've had previous insurance experience, go through an agent so you don't screw something up (or at least so if the agent screws up, its on their E & O).
Who's your car insurance through? Most auto insurers write umbrellas too and usually works out better having your primary auto and umbrella together with one carrier.
Posted on 2/14/18 at 4:41 pm to AugustaTiger
quote:My $2mm is almost 10x that
It was $260/year for my coverage through Auto Owners.
Posted on 2/14/18 at 5:16 pm to Double Oh
quote:
I need it for an oilfield company
quote:
Double Oh
If this is really for an oilfield company, you need to go a local agent and talk to them. I am assuming you are going on location and they will read/check your policies to make sure you have the correct coverage and endorsements on there.
If you are set on doing it yourself- look at your MSA and make sure the quote has the correct endorsements and additional insureds per your MSA.
In short- oil companies don't frick around with shitty insurance.
Posted on 2/14/18 at 5:38 pm to wildcat3
I’d be careful just picking a random umbrella policy to sit over another random HO policy or personal auto. The fine print on those policies can make them amazing or worthless. If you’re at a point financially where you are worried about someone suing you for limits higher than your underlying limits you really should let an independent agent look at your insurance.
If one policy is 10x cheaper than another for the same limits, I would be willing to bet one has a lot of exclusions or limitations the other doesn’t. There’s nothing wrong wit that, as long as you are aware of all of it on the front end.
If one policy is 10x cheaper than another for the same limits, I would be willing to bet one has a lot of exclusions or limitations the other doesn’t. There’s nothing wrong wit that, as long as you are aware of all of it on the front end.
Posted on 2/14/18 at 6:47 pm to achenator
I’ve only got two vehicles, a house, and a boat to worry about. Probably why it’s less.
Posted on 2/14/18 at 10:28 pm to Double Oh
Call the company your gl is with
Posted on 2/14/18 at 10:38 pm to anewguy
quote:
f this is really for an oilfield company, you need to go a local agent and talk to them. I am assuming you are going on location and they will read/check your policies to make sure you have the correct coverage and endorsements on there.
If you are set on doing it yourself- look at your MSA and make sure the quote has the correct endorsements and additional insureds per your MSA.
In short- oil companies don't frick around with shitty insurance.
No i am going thru an agent and yes i will be going on location. Got my first quote today for General Liability, Umbrella liability, and Auto Insurance roughly 13-15K year. WTF??????
Posted on 2/14/18 at 11:27 pm to Double Oh
quote:
No i am going thru an agent and yes i will be going on location. Got my first quote today for General Liability, Umbrella liability, and Auto Insurance roughly 13-15K year. WTF??????
I have home, auto (3 vehicles), and 1 million umbrella policy with Allstate, right at $4K per year.
Posted on 2/15/18 at 6:48 am to Double Oh
quote:
No i am going thru an agent and yes i will be going on location. Got my first quote today for General Liability, Umbrella liability, and Auto Insurance roughly 13-15K year. WTF??????
That seems about right assuming around 1 million gl, 1 million auto, and maybe 5 million umbrella.
If you want a 2nd opinion talk with Ryan Thomson at Thomson Smith and leach
Posted on 2/15/18 at 8:45 am to wildcat3
This is one of those things you bundle or you will pay too much.
Posted on 2/15/18 at 9:21 am to Double Oh
quote:
No i am going thru an agent and yes i will be going on location. Got my first quote today for General Liability, Umbrella liability, and Auto Insurance roughly 13-15K year. WTF??????
What is your fleet size? GL exposures?
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