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  #16  
Old 04-08-2012, 05:41 PM
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Originally Posted by Zone 5 View Post
well duh. Its an umbrella, not a main policy
Reiterating Stacys point above. Or should I say re-idiot-erating for most of you idiots.
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  #17  
Old 04-11-2012, 05:10 PM
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Upping the insurance on my house and car, boat didn't need any extra, AND a million dollar umbrella only adds 21 dollars a month. That's a no brainer!
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  #18  
Old 04-17-2012, 12:18 PM
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Originally Posted by HyperBaja View Post
Interesting. What are you guys paying for what kind of coverage on the umbrella?

I have been meaning to look into one, I will however need to raise the insurance on everything except the boat it seems. Will be interesting to see the final cost.

In sure it all depends on the policy, but do the business unbrellas often cover boats over 65?
Business umbrellas only extend over underlying business policies. Personal umbrellas only extend over underlying personal lines policies. You cannot mix the two.
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  #19  
Old 04-17-2012, 12:21 PM
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Originally Posted by MarylandMark View Post
USAA says:

Liability Liability coverage in the event you are held legally responsible in a personal liability claim. This coverage helps pay for remaining costs after the liability limits of your auto, homeowners or watercraft insurance have been reached.

When choosing this coverage you should consider the value of your home, rental property, savings, investments and future earnings potential. A claim that exceeds your liability coverage limits can put these and other assets at risk.

Example: A family member is driving down the road and loses control of their car causing an accident involving four cars and an 18-wheeler. The total medical costs of the injured persons exceed the $300,000/$500,000 Bodily Injury Liability Limit of your auto insurance, and the repair costs of the damaged vehicles exceed the $100,000 Property Damage Liability Limit of your auto insurance. We'll pay up to your selected Umbrella coverage limit to help cover the costs that exceed your auto insurance liability limits.


The biggest mistake with insurance I see people make if they cover how much they think all of their stuff is worth to replace. They have a $100K boat and want to make sure that is covered if they were in a boating accident, which if I were in an accident that would be the last thing I would be thinking about.
Umbrella policies extend the underlying LIABILITY limits (not the property coverage)..... So I hope people don't start valuing what their "stuff" is worth to determine the liability limits that are considered adequate....
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  #20  
Old 04-17-2012, 12:50 PM
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Originally Posted by insurancegoddess View Post
So I hope people don't start valuing what their "stuff" is worth to determine the liability limits that are considered adequate....
Agree and was the point I was making. A $5K boat can still cause $5M in damages.
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  #21  
Old 04-19-2012, 02:01 AM
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Business umbrellas only extend over underlying business policies. Personal umbrellas only extend over underlying personal lines policies. You cannot mix the two.
Got it all covered, can't believe how cheap it was!
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  #22  
Old 04-19-2012, 02:38 PM
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Got it all covered, can't believe how cheap it was!
Through Stacy?
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  #23  
Old 04-19-2012, 05:23 PM
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Through Stacy?
No, I went through the company that has everything of mine.
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