Umbrella Insurance Policy

[dfchelbay]

Hi everyone, a few weeks ago I asked for all your opinions on an Umbrella Policy because ours doubled when we received our renewal notice. Upon looking around, all the companies I got rates from wanted all my policies, auto, home, etc. in order to get the rate they quoted.

My question is this: Does anyone have an Umbrella Policy with a separate company than your homeowners and auto? If so, can I get some names of those companies so I can get a rate quote from them. Thanks all.

 

[Juliee8]

Cincinnati Insurance Company

 

[pklein09]

I have an umbrella policy with my homeowner insurance (Harleysville) and my auto is Liberty Mutual. I had to up my Liberty Mutual to $500/$250 from $300/$100 in order to get te umbrella policy from Harleysville. Yes, it can be done!

 

[bettymae1121]

What is an umbrella policy, anyway? I think it has something to do with if a claim is made against one of your other policies (home owners, auto) and it exceeds the limits of that policy, the umbrella policy then picks up the rest. But I'm not sure, and I'd like to find out more, if anyone has the time to explain it to me.

 

[ZachnElli]

What is an umbrella policy, anyway? I think it has something to do with if a claim is made against one of your other policies (home owners, auto) and it exceeds the limits of that policy, the umbrella policy then picks up the rest. But I'm not sure, and I'd like to find out more, if anyone has the time to explain it to me.

Yes, bettymae, that is what it is. Say you get into an auto accident and you are found at fault and there are injuries in the other vehicle and it exceeds your $250,000 medical coverage, they would then sue you to recover more money. The umbrella policy would then take over helping you to protect your assets (house, savings, retirement, etc). Of course, sometimes people sue even when they aren't injured too!

 

[mikehn]

I have an umbrella through Geico and my other coverages are through other companies.

 

[mrsstats]

Most insurance companies require at least the auto. You can get an umbrella without the company writing the auto or home but the premium usually is higher. Contact your insurance agent.

 

[kellydizfan]

Yes it can be done. Most times it is for more money. They usually want both policies in order to get an umbrella policy to cover over home, auto and any toys you may own.

 

[bettymae1121]

Yes, bettymae, that is what it is. Say you get into an auto accident and you are found at fault and there are injuries in the other vehicle and it exceeds your $250,000 medical coverage, they would then sue you to recover more money. The umbrella policy would then take over helping you to protect your assets (house, savings, retirement, etc). Of course, sometimes people sue even when they aren't injured too!

Thanks. I know my auto covers me for $250k/$500k, but a bad accident could easily wipe that out. And I have no clue what our home owner's limits are. I'll have to call my insurance agent and see what an umbrella policy would run us.