Umbrella Insurance Considerations

[Steven Weiss]

Hi All,

I've been researching Umbrella Insurance options and the information I have found seems to be a bit limited in regards to the pros and cons of each company (ie Safeco vs Allstate). I have a rental property in the Hollywood, CA area. Currently my insurance carrier is Farmer's, but I do not mind if I have to change policies. Also, I'll most likely be looking into a 2 million umbrella coverage. So my questions are the following:

1. What are the pros and con's any of you have noticed with specific companies and their umbrella coverage? 

2. Which company do you prefer for your umbrella policy coverage and why? 

3. Have you actually had to use your umbrella coverage? If so, how did it go? was it efficient? Were there any challenges you faced? 

Regards,

Steven 

[Jason Bott]

@Steven Weiss in regards to #1, 99.9% of the time, Umbrella policies are an extension of the underlying Liability policy.  The Umbrella does not have unique coverages/exclusions, only the Liability policy does.

Example would be, the Liability policy excludes animal bites, then the Umbrella would exclude them.  If animal bites are covered, then the Umbrella would cover them.