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Started By
Message
re: Apparently State Farm is claiming not to issue new Umbrella policies.
Posted on 8/14/25 at 11:08 pm to Lake Vegas Tiger
Posted on 8/14/25 at 11:08 pm to Lake Vegas Tiger
quote:
Ditched SF for USAA in Lake Charles
I haven't found USAA to be competitive for car insurance in years.
0
Posted on 8/15/25 at 1:50 am to armytiger96
Thanks…I think I need to be shopping for an umbrella policy!
Posted on 8/15/25 at 4:02 am to DiamondDog
It is company wide from my understanding. I heard about it weeks ago.
Posted on 8/15/25 at 4:37 am to Spankum
One of the benefits is that when the insurance company has a couple million at risk, they provide serious legal defense too.
Posted on 8/15/25 at 5:45 am to Jake88
quote:
The under/uninsured motorist part is most costly.
If you have health insurance and disability, why carry UM?
I waive it fully.
Posted on 8/15/25 at 6:21 am to RanchoLaPuerto
quote:
you have health insurance and disability, why carry UM? I waive it fully.
Don't do that. This is no, no, bad, bad, as I tell my toddler.
Posted on 8/15/25 at 6:52 am to RanchoLaPuerto
quote:
If you have health insurance and disability, why carry UM?
Because I have a family
Posted on 8/15/25 at 7:10 am to DiamondDog
Called my SF agent to complain about this. He explained that SF had significantly high loss rates the last 2 years. In ten years my Umbrella policy has gone from $180 a year to $ 2,300 a year for 2025. I’m consulting my estate lawyer to see what’s possible to shield my assets (LLC?) which aren’t extraordinarily high. I’m not wealthy.
Recognizing someone has to pay for all those billboards and TV ads, must be a lucrative business. Plus, free high end hunting trips for the governor.
Recognizing someone has to pay for all those billboards and TV ads, must be a lucrative business. Plus, free high end hunting trips for the governor.
Posted on 8/15/25 at 7:20 am to TJG210
Was told by a plaintiff attorney that for a couple hundred bucks he can find out exactly what insurance coverage a person carries.
Posted on 8/15/25 at 7:21 am to DiamondDog
quote:
Agent told me they've been paying out more than they're taking in. $1MM coverage went up to $2,450 a year for me. Almost 100% increase.
I think i pay like $300 a year with progressive
Posted on 8/15/25 at 7:28 am to Spankum
quote:Excess liability coverage on top of the liability on all your other policies (auto, homeowner, boat, RV, motorcycle, etc).
What the hell is an “umbrella” policy? Homeowners, automobile, both?
Usually only rich people carry umbrella coverage
Posted on 8/15/25 at 7:37 am to RanchoLaPuerto
quote:
If you have health insurance and disability, why carry UM?
I waive it fully.
One of my least favorite conversations to have with clients when they get smoked by someone with minimum limits or no insurance.
This is just really bad advice.
Posted on 8/15/25 at 7:39 am to Tigerpaw123
quote:
Because I have a family
All you are insuring is your noneconomic damages.
And if you want to protect your family, buy life insurance.
Posted on 8/15/25 at 7:42 am to boosiebadazz
quote:
This is just really bad advice.
Why?
If I’m disabled, DI covers it.
If my car is destroyed, I have collision.
All meds are covered by health insurance.
If I die, I have life insurance.
So exactly what is UM covering that I don’t already have elsewhere?
If you can tell me, I’ll buy it. But if you say (which I think is true) my noneconomics, that is, pain and suffering, I don’t see it.
This post was edited on 8/15/25 at 8:40 am
Posted on 8/15/25 at 7:43 am to RanchoLaPuerto
quote:
If you have health insurance and disability, why carry UM?
Because income can also be subject to garnishment; not just assets.
Posted on 8/15/25 at 7:47 am to BestBanker
quote:
Because income can also be subject to garnishment; not just assets.
UM does not protect me from liability. It insures me against the other guy’s liability.
So I’m not following you.
I’m not trying to pick a fight or be a dick.
But as I see it, I’m already insured for most everything UM covers.
Posted on 8/15/25 at 7:50 am to DiamondDog
Reluctantly left SF years ago for this reason. Someone told me after they left their agent called and “rebid” their policies at a huge savings…..,still said f em. Why try to screw me when you can do it cheaper? Fairly easy to donut all yourself o line and skip the whole agent scam anyway.
Posted on 8/15/25 at 7:52 am to RanchoLaPuerto
Sorry. I wasn't referring to UM.
It's early. Just responding to why have the umbrella.
UM is for your protection for under insureds injuring you. Most people carry the slightest of liability coverage, and most people are the ones driving hunks of steel erratically on the roads. I carry it but if you think you're good with medical and disability coverage, that's your choice. No worries here.
It's early. Just responding to why have the umbrella.
UM is for your protection for under insureds injuring you. Most people carry the slightest of liability coverage, and most people are the ones driving hunks of steel erratically on the roads. I carry it but if you think you're good with medical and disability coverage, that's your choice. No worries here.
This post was edited on 8/15/25 at 7:56 am
Posted on 8/15/25 at 7:53 am to BestBanker
quote:
BestBanker
Good deal.
Posted on 8/15/25 at 8:02 am to RanchoLaPuerto
quote:
If I’m disabled, DI covers it.
Short-term is going to be a portion of your wages for a defined period, likely maxed out at two years. That will then convert to a long term policy with an “any occupation” clause, i.e. not can you return to your own job, but can you do any job like stand at the door at Walmart. If you can, benefits cease or are cut drastically.
Not to mention co-pays or deductibles on health insurance that will come out of your pocket at the time of service.
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