Hi gang-

This may be somewhat OT, but hopefully it's interesting enough for the
forum:

I've been considering an umbrella policy to go along with my home & auto
insurance. Apparently this is a common thing, giving for example $1M
liability coverage for things that slip through the traditional home and
auto policy, or for damages to us that go beyond the limits of the home
& auto policies.

I've got my insurance policies with Allstate, so I was about to sign up
for their coverage (works out to about $200 per year), but then found
out that excluded is coverage for excess damages to us by under- or
uninsured drivers. I would have to specifically increase my auto
coverage to deal with this. From a cost perspective, I'd rather just get
an umbrella policy that wasn't so leaky.

Apparently most other umbrella policies do include this, and Allstate
seems to be "odd" in this respect.

I'd like to get feedback from the group about good companies to go to
for umbrella policies to supplement their home/auto insurance.

Thanks

Marc

State Farm works the same.


"MAG" wrote in message
ganews.com...
Hi gang-

This may be somewhat OT, but hopefully it's interesting enough for
the
forum:

I've been considering an umbrella policy to go along with my home &
auto
insurance. Apparently this is a common thing, giving for example $1M
liability coverage for things that slip through the traditional home
and
auto policy, or for damages to us that go beyond the limits of the
home
& auto policies.

I've got my insurance policies with Allstate, so I was about to sign
up
for their coverage (works out to about $200 per year), but then
found
out that excluded is coverage for excess damages to us by under- or
uninsured drivers. I would have to specifically increase my auto
coverage to deal with this. From a cost perspective, I'd rather just
get
an umbrella policy that wasn't so leaky.

Apparently most other umbrella policies do include this, and
Allstate
seems to be "odd" in this respect.

I'd like to get feedback from the group about good companies to go
to
for umbrella policies to supplement their home/auto insurance.

Thanks

Marc

Read the policy carefully. Be wary what agents tell you, the spoken word is
gossamer and essentially meaningless. Policy starts with big print that
gives much but the tiny print at end takes it back.
Seamus J. Wilson
"MAG" wrote in message
ganews.com...
Hi gang-

This may be somewhat OT, but hopefully it's interesting enough for the
forum:

I've been considering an umbrella policy to go along with my home & auto
insurance. Apparently this is a common thing, giving for example $1M
liability coverage for things that slip through the traditional home and
auto policy, or for damages to us that go beyond the limits of the home
& auto policies.

I've got my insurance policies with Allstate, so I was about to sign up
for their coverage (works out to about $200 per year), but then found
out that excluded is coverage for excess damages to us by under- or
uninsured drivers. I would have to specifically increase my auto
coverage to deal with this. From a cost perspective, I'd rather just get
an umbrella policy that wasn't so leaky.

Apparently most other umbrella policies do include this, and Allstate
seems to be "odd" in this respect.

I'd like to get feedback from the group about good companies to go to
for umbrella policies to supplement their home/auto insurance.

Thanks

Marc

It's an "excess" or "umbrella" policy and does not cover "what slips through
the cracks." It only pays after the primary coverage is exhausted. It does
not pay if you don't have the required primary coverage.

You should be able to get excess coverage starting at less than $1 million
primary but may be cheaper to increase your primary.


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MAG wrote:

Hi gang-

This may be somewhat OT, but hopefully it's interesting enough for the
forum:

I've been considering an umbrella policy to go along with my home & auto
insurance. Apparently this is a common thing, giving for example $1M
liability coverage for things that slip through the traditional home and
auto policy, or for damages to us that go beyond the limits of the home
& auto policies.

I've got my insurance policies with Allstate, so I was about to sign up
for their coverage (works out to about $200 per year), but then found
out that excluded is coverage for excess damages to us by under- or
uninsured drivers. I would have to specifically increase my auto
coverage to deal with this. From a cost perspective, I'd rather just get
an umbrella policy that wasn't so leaky.

Apparently most other umbrella policies do include this, and Allstate
seems to be "odd" in this respect.

I'd like to get feedback from the group about good companies to go to
for umbrella policies to supplement their home/auto insurance.

Thanks

Marc

Also... Be very careful with Allstate. They have cancelled several
polcies that I know of. One was an auto policy, the person had no
accidents or tickets for a period of over 10 years. when they had 1
accident, they cancelled the policy and tried to get the person to take
out another one with their "preferred risk" company at 3 times the cost.

How were you able to get homeowners insurance for only $200/year?

In article , scott_z500
@my-deja.com says...
How were you able to get homeowners insurance for only $200/year?

There is a misunderstanding: the umbrella on top of the existing
homeowners / auto would come to $200 per year. Actually, the
homeowners' plus the auto insurance together are about $1400 / year
(Howard County, MD). The umbrella policy would be about $270 but comes
with a 5% discount on the other policies, so the net increase in cost
would be ~$200.

My auto policy has been the typical 100/300/100, so things that worry me
a

1. My wife and I cause an accident with damages/liablity greater than
the coverages listed above.
2. Un/under-insured motorist causes us damages in excess of the $100k
shown above.

I'm also generally worried about other things that might happen around
the house that would come with liability greater than I carry on the
house, which was another reason for wanting a $1M "all perils" kind of
liability coverage. Unfortunately, the umbrella policies I've seen so
far seem to be very leaky.

Marc

MAG writes:

Unfortunately, the umbrella policies I've seen so
far seem to be very leaky.

It is supposed to cover your liability for your acts, not uninsured
motorists. Not really a "leak".

You should by all means consider the exclusions seriously, but often they
don't hold up in court.

Florida is in an insurance crisis on several fronts. You can't buy (to
save money) a homeowner's policy omitting exorbitantly-priced hurricane
coverage, because the insurers are afraid the state would void the
exclusion if there was a loss.