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Old     (jay_g)      Join Date: Apr 2006       05-31-2010, 11:33 AM Reply   
How many of you carry umbrella polices? I have the standard 100/300 on my boat but...Im always wary of someone new coming out on my boat getting hurt and possibly suing me. Probably why I need to stick to a standard crew.....Anyway whats your thoughts on 1MM umbrella polices?
Old     (ktm525)      Join Date: Mar 2009       05-31-2010, 12:12 PM Reply   
We were just sitting around the campfire talking about this. One of my friends is carrying 2 mil umbrella( they said 1 mil is not enough). Someone also suggested having a wavier draw up and signed by everyone going out to release liability of the boat owner/driver.
Old     (ixfe)      Join Date: Aug 2008       05-31-2010, 1:31 PM Reply   
I just got a quote from my State Farm agent... I can get a $2M umbrulla policy for $275/year. Seems like a no-brainer to me. I'm calling to get it added this week.
Old     (ottog1979)      Join Date: Apr 2007       05-31-2010, 3:15 PM Reply   
I have $1MM umbrella on my homeowners.
Old     (meathead65)      Join Date: Sep 2006       05-31-2010, 3:49 PM Reply   
I carry a 2MM umbrella, primarily due to the fact that we have a swimming pool and dozens of my kids friends over thru the summer. Cost for the umbrella was only 190 a year, however they did require that I up the liability limits on my vehicles a bit higher than they had been. Total cost for all totaled out to about 300 per year (State Farm)
Old    ScottRobinson            05-31-2010, 4:46 PM Reply   
Well, I AM a State Farm Agent, so I love to see all the people going to theirs to get a quote. YES YES YES have one. It doesn't cost much as you can see a year, and just peice of mind. I just chalk it up to a must have, sort of like life insurance too. I hope you all also make sure you have all that in place prior to going out on the water. Be safe, and you are with the best company out there !!
Old     (hatepain)      Join Date: Aug 2006       05-31-2010, 4:49 PM Reply   
I have a 1 million, we have a couple places one of which has a pool, plus the boat and all its good peace of mind in this litigious country we live in. I think it was like $13 more a month.
Old     (cwb4me)      Join Date: Apr 2010       05-31-2010, 4:53 PM Reply   
if you are self empoyed people think your rich so they want to sue you.it is cheap insurance to protect your assets!you work hard to get them so spend a little to protect them.
Old     (scott)      Join Date: Feb 2010       05-31-2010, 5:47 PM Reply   
I have a mil. on mine! Like the rest of the guy's said its cheap compared to what could happen!
Old     (bill_airjunky)      Join Date: Apr 2002       05-31-2010, 7:21 PM Reply   
We have a mil over everthing, boat, ATVs, golf cart, house, etc.

Seems like we had to raise the liability up to 500k to do the umbrella. Most all of the policies dropped a bit though. The bottom line is like an additional $200 / yr.
Old     (jay_g)      Join Date: Apr 2006       05-31-2010, 8:24 PM Reply   
looks like im going to look into it
Old     (jv210)      Join Date: Feb 2006       06-01-2010, 11:40 AM Reply   
I got 1mil and cost about 200 a year or 16 a month from state farm. Like bill said, all vehicles you own, be it a boat, cars, or RV must have the liability raised to 500k because the umbrella doesn't kick in until then. For 16 a month it's gives me good piece of mind
Old     (timmyb)      Join Date: Apr 2007       06-01-2010, 11:57 AM Reply   
I just got a $1 mil a few months ago to be on the safe side. State Farm required me to raise the liability on the vehicles to $250k and it only added like $7 a month as I recall. I have $300k on the boat too.
Old     (scotthons)      Join Date: Mar 2010       06-04-2010, 7:40 AM Reply   
They day after reading this post my work sent out an email for group discounts for umbrella policies. I just picked up $2 million for $300/year, but I did have to increase the boat limits to $500k. Everything else was right where they needed it. Working in the insurance industry you would think I would have done this awhile ago
Old     (bmartin)      Join Date: Jan 2007       06-04-2010, 7:56 AM Reply   
If you have meaningful assets/networth that would be attractive to a personal injury attorney, an umbrella policy is a no brainer.

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