Personal Umbrella Policy Insurance Company Recommendation

[dfchelbay]

Can anyone give me some names of insurance companies for an Umbrella policy. We just got the renewal and they have doubled the premium from last year. It's nice to know that when the economy is in the toilet, and we're living in a recession, we can still count on the good old insurance companies to kick us in the face and gut when we're all keeping a tight budget.

We are currently with RLI, which works with GMAC Insurance. I'm not at all happy about the last minute of this either. They want their premium by April 26th. Since I got this yesterday, that gives me ten days to pay this. So, if any one can recommend another insurance carrier for a personal umbrella policy, we'd greatly appreciate it.

I'd love to sign on with another carrier and tell RLI to shove their policy you know where.

 

[Cheshire Figment]

I have my automobile insurance and an umbrella policy with GEICO. I had also used them for my homeowners until they got out of the homeowner policy business but they are my agent for Travellers.

 

[clh2]

We have an umbrella policy with Geico, and something happened, that REALLY increased our rates a ton. IIRC, something changed with the state that we living with the recommended limits, somehow related to auto coverage. We called them and told them we didn't want the increase whatever it was they did to us.

THe net result was - our umbrella changed very little.

It is really late, and I am very tired, sorry I do not remember the specific details.

So - I would just recommend talking to that aprticular company, and see what they have to say. Our fix for the shocking bill was easy to fix.

 

[ambgoph]

I've had Liberty Mutual for years. I got a quote from Geico that was much more - I was very surprised at that.

 

[cm8]

not sure if you are a credit union member, but some credit unions offer umbrella policies and for a great price too. That may be some thing you want to check out in your local area. And ten days is not enough time to pay especially when you are sticker shock

 

[rflorek]

I have my auto, renters, and umbrella policies with Allstate.

 

[cvjw]

Our policy is $70 a year for a million dollars of coverage with State Farm. We have all of our policies with State Farm - I'm sure that plays a role in the price of the umbrella policy.

 

[Mom_Rides]

We are with Travellers. Home, Auto, Umbrella.

 

[PatsMom]

We have an umbrella policy with Geico, and something happened, that REALLY increased our rates a ton. IIRC, something changed with the state that we living with the recommended limits, somehow related to auto coverage. We called them and told them we didn't want the increase whatever it was they did to us.

THe net result was - our umbrella changed very little.

It is really late, and I am very tired, sorry I do not remember the specific details.

So - I would just recommend talking to that aprticular company, and see what they have to say. Our fix for the shocking bill was easy to fix.

If your change was relative to auto coverage, they could be like NH and your state now requires that umbrella policies offer to cover uninsured motorist damage. You can decline the coverage, as you did, to save on premium.

My policies are with Concord Mutual and they are now folding the umbrella coverage in with my homeowners. Premiums will stay the same. I think this is the beginning of a trend. When we review policies, we often see companies that will not offer an umbrella policy unless the also provide the underlying homeowners and auto coverage.

 

[iwrbnd]

Our policy is $70 a year for a million dollars of coverage with State Farm. We have all of our policies with State Farm - I'm sure that plays a role in the price of the umbrella policy.

We pay $60/month for our umbrella policy with State Farm that's also for a million dollars! What are we doing wrong?

 

[DVC-Don]

I have our 4 autos, homeowners, life, hospital income, business & umbrella ($2 million) with State Farm.

 

[rflorek]

We pay $60/month for our umbrella policy with State Farm that's also for a million dollars! What are we doing wrong?

I pay just under $250 per year for $1 million over my auto & renters in Central NJ

 

[Skatermom23]

The difference in rates also depends who is covered under your umbrella. Mine was around $125 when it was just DH and myself. Once I added DS18 to our policy the amount doubled. So not only did the car insurance go up but so did the umbrella costs.

 

[clh2]

The difference in rates also depends who is covered under your umbrella. Mine was around $125 when it was just DH and myself. Once I added DS18 to our policy the amount doubled. So not only did the car insurance go up but so did the umbrella costs.

I'm expecting this to happen too. We just added a 16 year old driver to our auto policy.

 

[5stljayhawks]

You may want to look at Costo who offers insurance through Ameriprise.

There are a bunch of extras that come with your membership levels, such as id protection, free towing, home locksmiths, home window breakage replacement.....


BTW In the 5 or 6 years I have not been able to get a company to beat the price for home/car/umbrella.

 

[Sadie22]

Male drivers under 25, with or without the good student discount, make a big difference in auto insurance premiums around here. The umbrella liablity coverage premium would be lower also if we had higher coverages for the vehicles. We have had policies for many years so were grandfathered in when new higher coverage recommendations for auto coverage began. There are lower premiums for having all insurance with same company, length of time you've been a customer, and of course driving records.

 

[Coll0610]

Check with whatever company(s) you already have auto and homeowners with. I know State Farm charges a lot more if they don't have both your auto and homeowners.

 

[dfchelbay]

Check with whatever company(s) you already have auto and homeowners with. I know State Farm charges a lot more if they don't have both your auto and homeowners.

Unfortunately, that's who the Umbrella policy is with. We have homeowners, auto and umbrella with the same company.

 

[Golf4food]

Seeing that the OP lists their location as MI/FL, I am assuming that the FL part is the big culprit?

State Farm was given permission from the state of FL for a large rate increase. FL had kept the rates abnormally low for many, many years and only now are allowing an appropriate rate. The fact that it came all at once is unfortunate but is also the fault of the state, not the insurance companies. Insurance companies can only charge what the states allow - it is one of the most highly regulated industries in America.

 

[swilshire]

We have priced this a couple of times with Farm Bureau, where we have our homeowners and auto policies. One of the factors they use to calculate is the number of autos you own. Since we own seven (4 1/2 drivers) the quote was several hundred dollars. More than I can afford on top of our already high auto bill.

Sheila