umbrella policy is going up over 50%

[Dan H.]

Property insurance roes have got a lot of press as providers pull out of various markets and prices increase.  Florida is likely the most impacted, but California has also been heavily impacted.

I have not seen anything on umbrella coverage prices increasing significantly.

We currently have a $5M umbrella policy (we have had this level of coverage for many years and would prefer $10M of coverage if it can be purchased as a reasonable cost).  Our current Umbrella insurance provider has stopped insuring vehicles in California.  Their umbrella policy, without the vehicle coverage, dropped $800 (I would rather pay the $800 and have the vehicles covered).  However, we want to keep our vehicles covered by the umbrella policy.  We have started looking for another provider and the coverage is over 50% higher priced than we paid last year (different insurer).  The policy we really want (but covers stuff that was we did not have coverage last year) is $2K higher than what we paid last year (71% increase, almost $4.8k/year).

I used to consider umbrella coverage to not have significant cost, but this seems to no longer to be the case to have umbrella coverage that covers everything.

Have others experienced the same type of increase in cost to their umbrella coverage?  I do recognize that our current provider did not raise their rates significantly, but dropping vehicle coverage is something we do not desire.