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Personal Liability Umbrella (Insurance) Policies

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Old 03-04-2004, 09:47 AM
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Default Personal Liability Umbrella (Insurance) Policies

(PLUP)
Does anyone else have one?
Very smart dollar spent IMHO,
I pay State Farm $224 year for $2M in coverage in any liability.

It works as such:
I carry both my vehicles with SF.
I carry my renters/homeowners with SF.
My boat is with NMU, but SF would insure it; I just chose not to have all my eggs in one basket. (Not a requirement to have everything with SF.)

Basically, all of the above policies have liability coverages on them. Each of them has a deductible. In the event of an accident covered by any of the above policies, your pay and meet your deductible.

In the event, you exceed your liability coverage for that respective policy, the amount of your liability coverage limit, is your deductible for your PLUP. Your PLUP then kicks in until it reaches its limit.

I figure, ANYTHING can happen out there, unfortunately; and while I don't carry an abundance of life insurance, I also do not have a family that I am supporting. The PLUP does cover me pretty well in the event something goes wrong, it hopefully will not affect the rest of my life; monetarily. I think I am going to upgrade the policy to $3M next year. Its not much more.

Last edited by Sydwayz; 03-04-2004 at 09:58 AM.
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Old 03-04-2004, 09:52 AM
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I wanted to get one. But American Family wants all my policies. The problem is that they refuse to insure my boat!
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Old 03-04-2004, 09:54 AM
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Push 'em Cord. I did not have to, as SF was friendly about it. Take your declarations page to them, and tell them to push it to the underwriters.
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Old 03-04-2004, 09:55 AM
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1 milion for 108 yearly
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Old 03-04-2004, 09:56 AM
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224/year is great for the peace of mind. I've looked into it before, but most insurers want all of your policies. Okay in theory, but limits your ability to shop around. In the end, I'd be paying through the nose to do that, regardless of who: SF, allstate, nationwide, I've checked them all.
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Old 03-04-2004, 10:34 AM
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Quote:
Originally posted by CustomRigger101
1 milion for 108 yearly
Well spill the beans. With who?
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Old 03-04-2004, 10:59 AM
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Money well spent, Our agent talked us into doing it last year and I'm glad we did.

However I ran into a lot of questions if you wanted over $1 Million, so we just stayed at that level.

We did however have to up our coverage on the auto's to meet the requirements of the unbrella policy.

I THINK EVERYONE SHOULD LOOK INTO THIS.
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Old 03-04-2004, 11:02 AM
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1 Mill. form State Farm for $125 a year. Only catch was I had to up the coverages on all Cars, Boat and Bike.

Still think it is worth the money.


Anyone have Earthquake ins?

$90 a year from State Farm for 95% rebuild. Cheapest/best policy I own.



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Old 03-04-2004, 11:12 AM
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Quote:
Originally posted by Jan

Anyone have Earthquake ins?

$90 a year from State Farm for 95% rebuild. Cheapest/best policy I own.



Jan
Dude!!!

When was the last earthquake in South Carolina?
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Old 03-04-2004, 11:13 AM
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Quote:
Originally posted by Dock Holiday
Money well spent...

I THINK EVERYONE SHOULD LOOK INTO THIS.
EXACTLY why I posted. Thank you all for your inputs.

Last edited by Sydwayz; 03-04-2004 at 06:50 PM.
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