Umbrella policies - Are you sure your boating exposure is covered?
06-10-2010, 10:01 AM
#11
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Stacey......as you know I have my insurance through you.....I am still activly looking for an umbrella......my question is do I have to have all of my insurance with the same carrier or will your umbrella pick up where geico left off. I have my auto with geico and my home owners with another company.....is it possible for the umbrella to just pick up where the others leave off.........................John.....
Nearly all regular umbrella policies will pick up over your existing carriers and you do not have to move your primary insurance policies.
HOWEVER, the product that we have that will extend over your performance boat is a product where it puts your home, auto, watercraft and rec. toys all on one policy with your umbrella. So for that particular product yes, you would have to put all coverages with the one carrier. Most regualar umbrellas will exlude performance boats from the policy, hence the need for a specialized product like the one we offer.
Hope this helps.
Stacy
06-10-2010, 03:45 PM
#12
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I was told years ago that I could not get an umbrella specifically because of my 42' Chris Craft Cruiser, inland Lake Ozark boating, gas powered (if that matters).
Is that still true? Or will it increase my premium?
And BTW, my regular premium went up this year 20%! And never had a claim in 20 years.
Is that still true? Or will it increase my premium?
And BTW, my regular premium went up this year 20%! And never had a claim in 20 years.
06-10-2010, 03:52 PM
#13
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I was told years ago that I could not get an umbrella specifically because of my 42' Chris Craft Cruiser, inland Lake Ozark boating, gas powered (if that matters).
Is that still true? Or will it increase my premium?
And BTW, my regular premium went up this year 20%! And never had a claim in 20 years.
Is that still true? Or will it increase my premium?
And BTW, my regular premium went up this year 20%! And never had a claim in 20 years.
As far as the umbrella, if it is under 60mph top capable speed, then it should not be excluded from an umbrella or cause you not to be able to obtain an umbrella. Give me a call if you'd like. Safeco Insurance might be a good option for you in the Midwest...
Last edited by WakezoneINS; 06-10-2010 at 04:06 PM.
06-10-2010, 05:44 PM
#14
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I sure would hate to tell one of my clients, when on their quotation it clearly states... POKER RUNS excluded..., "don't worry... if you have a good lawyer... he can try to fight it... let's wait and see what happens".... can we say... horrible advice.....
I would never advise my client of that... It is up to the insurance company to state "poker runs" excluded.
06-10-2010, 05:50 PM
#15
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Well, of course you wouldn't and I agree completely BUT, thats not what you posted. You posted that they exclude any racing activities and that THEY consider poker runs racing. If they specificaly state "racing" excluded but not "poker runs", then they would have a very hard time in court as the definition of poker run does not include "racing".
It is up to the insurance company to state "poker runs" excluded.
It is up to the insurance company to state "poker runs" excluded.
.. OK... so not my best thread but hopefully I was still able to get the message across... and that was, read your policies and know your exclusions....
I am going to revise the original post so that it makes sense to future readers
It's in red....
Last edited by WakezoneINS; 06-10-2010 at 05:54 PM.
06-11-2010, 06:39 AM
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Hi John,
Nearly all regular umbrella policies will pick up over your existing carriers and you do not have to move your primary insurance policies.
HOWEVER, the product that we have that will extend over your performance boat is a product where it puts your home, auto, watercraft and rec. toys all on one policy with your umbrella. So for that particular product yes, you would have to put all coverages with the one carrier. Most regualar umbrellas will exlude performance boats from the policy, hence the need for a specialized product like the one we offer.
Hope this helps.
Stacy
Nearly all regular umbrella policies will pick up over your existing carriers and you do not have to move your primary insurance policies.
HOWEVER, the product that we have that will extend over your performance boat is a product where it puts your home, auto, watercraft and rec. toys all on one policy with your umbrella. So for that particular product yes, you would have to put all coverages with the one carrier. Most regualar umbrellas will exlude performance boats from the policy, hence the need for a specialized product like the one we offer.
Hope this helps.
Stacy
Last edited by Here's Johnny; 06-11-2010 at 06:49 AM.
06-11-2010, 09:54 AM
#17
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Yes, that would be considered an "excess liabilty" policy. It is a policy that extends the limits of one primary policy. For your particular policy it would cost roughy $500 to raise the lmits to $1,000,000. If you are interested, give me a call or drop me an email and I'll send you specifics.
06-12-2010, 09:14 AM
#18
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Mainly your future income from garnishment. While this may not be every situation, why leave it up to chance?
