Umbrella Policy $3 million to $6 million in coverage

[Michael Palmer]

I currently have a $2 million umbrella policy and would like to get a policy that will cover me in the $3 million to $6 million range. I would like to know if anyone could recommend an insurance company along with a person I can contact to receive a quote.

Thank you,

Mike

[John Mocker]

Michael,

The three options I see to increase your coverage are as follows:

1.  Current Carrier:   First check to see if the current umbrella can be inceased.  If not and you have different carriers for you home and auto insurance, see if the other carrier can do an Umbrella for you.  You could also shop all your coverage to see who will write the policies with a $5mm umbrella.

2. Stand-alone Umbrella:  There are several companies that will write an umbrella policy without having to write any of the underlying coverage (home, auto, ...).  Some of these will go up to $5mm limits.

3. Excess Liability:  There are non-standard (excess/surplus lines) options to cover after the current $2mm umbrella is exausted.  This would be the most expensive and complicated option and I would not recommend it unless the other options are not possible

If you have any questions on the above or would like to know what carriers we use in NY please PM me.

[Jason Bott]

Quote from @Michael Palmer:

I currently have a $2 million umbrella policy and would like to get a policy that will cover me in the $3 million to $6 million range. I would like to know if anyone could recommend an insurance company along with a person I can contact to receive a quote.

Thank you,

Mike

Connect with @John Mocker  He is in your area and can help.