Umbrella insurance

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1pk3mks
Posts: 12
Joined: Fri Oct 06, 2017 6:36 pm

Umbrella insurance

Post by 1pk3mks » Mon Nov 13, 2017 2:34 pm

Can anyone recommend an Umbrella insurance policy that does not require that I move my car insurance policy and my rental insurance policy to be a part of the Umbrella Insurance company?

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MP123
Posts: 660
Joined: Thu Feb 16, 2017 3:32 pm

Re: Umbrella insurance

Post by MP123 » Mon Nov 13, 2017 4:45 pm

Does your current insurer not offer Umbrella policies?

Generally they will have specific requirements for the underlying policies including having maximum coverage amounts. You wouldn't want to find your Umbrella didn't cover you because of some technicality in the underlying auto policy for example.

I would imagine it's also easier to deal with one company in the event of a suit rather than having to coordinate with two different companies. Sorry I don't have a specific recommendation.

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Cloud
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Joined: Wed Sep 12, 2007 12:43 pm

Re: Umbrella insurance

Post by Cloud » Mon Nov 13, 2017 5:06 pm

1pk3mks wrote:
Mon Nov 13, 2017 2:34 pm
Can anyone recommend an Umbrella insurance policy that does not require that I move my car insurance policy and my rental insurance policy to be a part of the Umbrella Insurance company?
RLI... You can purchase a straight up umbrella policy without moving your home or auto over.
https://www.rlicorp.com/personal-umbrella-policy
Last edited by Cloud on Tue Nov 14, 2017 11:36 am, edited 1 time in total.

1pk3mks
Posts: 12
Joined: Fri Oct 06, 2017 6:36 pm

Re: Umbrella insurance

Post by 1pk3mks » Mon Nov 13, 2017 5:18 pm

Thanks!

runner3081
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Re: Umbrella insurance

Post by runner3081 » Mon Nov 13, 2017 5:32 pm

Stillwater Insurance.

Daryl
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Location: Malvern, PA (I like to sleep near my money!)

Re: Umbrella insurance

Post by Daryl » Mon Nov 13, 2017 5:35 pm

How much coverage are we talking about? Premiums associated with typical umbrella policies probably don't vary a lot between different carriers, and I'd rather work with one company if I ever had a claim that exceeded the policy limits of the underlying policy. For most people, I'm assuming coverage is $100-$200 (annually) per million in coverage. Premiums could increase significantly if you need a larger policy.

TheAncientOne
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Re: Umbrella insurance

Post by TheAncientOne » Mon Nov 13, 2017 5:40 pm

I have auto insurance and umbrella with Amica. They've never asked me to move my homeowners insurance which is with Farmers although I believe that when I first started with them, I sent them a copy of my coverage.

1pk3mks
Posts: 12
Joined: Fri Oct 06, 2017 6:36 pm

Re: Umbrella insurance

Post by 1pk3mks » Fri Dec 08, 2017 10:45 am

Thanks for the help. I ended up buying the umbrella policy with RLI corp. I kept my cars with USAA and my home insurance with State Farm. A USAA rep sold me the RLI umbrella policy. USAA does offer this service through their insurance brokers, but the first time I called USAA, they wanted me to move my home insurance to USAA and buy their ownumbrella insurance product. They never mentioned the RLI product. It was an RLI rep who told me I could buy their product through USAA!

Amy2017
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Joined: Wed Oct 11, 2017 12:02 pm

Re: Umbrella insurance

Post by Amy2017 » Fri Dec 08, 2017 4:57 pm

Our home, auto, and rental insurance are all with Allstate. But Allstate's umbrella insurance does not cover rental properties in our state. So my Allstate insurance agent just helped us buy umbrella insurance from USLI. I think insurance agents make more money by selling the umbrella insurance in their company.

I have a friend who also has auto, home, and rental insurance from AllState with a different insurance agent. She contacted her agent to buy umbrella insurance because she wanted some rental property protection. Her agent then sold her Allstate umbrella insurance, which did not even cover rental properties. My friend did not read her insurance policy carefully and was not aware of this until I mentioned this to her later. My Allstate insurance agent is a friend of mine. So she offered to check my friend's AllState policy. Indeed her Allstate umbrella insurance did not have any of her rental properties covered, which is the main reason she asked for umbrella insurance. Furthermore, several of her rental properties have home insurance coverage instead of rental property coverage. So in theory, they were covered under umbrella insurance. But my agent told me that those rental properties could be denied of any compensation from either home insurance or umbrella insurance companies because it is very easy to find out they are not primary homes. Because home insurance is cheaper than rental property insurance, I guess that is how my friend ended up with her insurance agent because she thought she got a better deal. The lesson here is that you must read your policy very carefully.

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