How much liability insurance do you guys like to carry?

I have a $1,000,000 "umbrella" policy. It is set up to cover all my owned properties and vehicles. Doing it this way is less expensive than separate liability coverage on each item.
And NO, I'm not a rich guy (like so many on this board)!

Over ten mil, but 1-5 policy would secure any individual owner.

I have 300K on all my vehicals but the damn boat, no one wants to insure it due to its age and value, then goes into a multi million umbrella policy. The umbrella policy is relatively cheap to have and to add a million in coverage is maybe 20-30 bucks. I think that the whole umbrella policy was 200 or so bucks a year with Amica insurance.

Jon

I agree about the benifits of an umbrella, but the boat won't be insured by the same company, so the umbrella doesn't extend to it.

Reindl-guess that is a sign of how bad things have gotten.

Cord my policy will take over were another leaves off. For example Amica will not insure power boats of speed, so I have to look elsewere. They said to just make sure that I have the 300K coverage with who ever insures it and I will be fine.

Jon

Ahh, but my boat IS covered by my umbrella policy. Check with your agent- there's no real standard; every company has their own policy concerning "watercraft". In my case, the boat doesn't run fast enough to be considered "high performance" But it's good enough for me

Audiofn is right- umbrella policies kick in after the "normal" liability coverage is exceeded.

[ 01-17-2002: Message edited by: arks ]

$1,000,000 umbrella policy, covers home, auto, and boat. About the same price as a tank of gas (although not now).

Not being a homeowner I'm only able to get $1 million under my umbrella policy, which covers all my vehicles - which kicks in after the $500,000.00 regular policy I have. Can't have enough insurance, right?