Gents, how many of you carry a Umbrella Liability Policy in addition to your regular policies, e.g., Homeowners, Auto, etc. and if so, in what amount of coverage are you carrying?
Also, what is your annual premium for the Umbrella Policy?
I carry a 1 million$ (Apologies to Rocky) Umbrella Policy. My premium just went from 490$/yr. to 695$/yr. and I questioned the amount of increase to my Independent Agent to see why as I already have the maximum liability for Homeowners and Auto.
His answer was that most all have increased across the board but that the purchase of my new duck hunting and fishing camp “in Louisiana “ also contributed to the increase. Louisiana is known as a very litigious state.
I got to thinking about the costs versus exposure and started adding up the inclusions for the Mississippi deer camp, Louisiana camp, UTV, Deer camp Jeep, Homeowners, 2 vehicles, 2 boats, farm equipment use, and several more items of use all covered under the Umbrella Policy and maybe it ain’t a bad deal at all .
Wondering what you guys have and the costs for similar.
