umbrella insurance for Lloyd as underwriter

[Allen L.]

Hi all,

I have a few properties insured at NREIG using Lloyd as underwriter, as well as a few with Travellers and 1 with Safeco. I would like to get an umbrella policy for all or most of these properties, I spoke to an agent previously and he said that his brokerage cannot qualify insurance underwritten with Lloyd. Can anyone else please help me get an umbrella insurance?

[Justin Hoggatt]

I'm not an insurance broker, but figured I can share what I've dealt with in the past.  When putting properties into a policy, you will generally want them all within the same company.  I could be wrong here, but the umbrella has only been possible for me when I have personal policies and all my policies under one roof.  That umbrella is personal protection for me.  For the properties, it sounds like you have business insurance for those, and a good business policy should be all you need here.

Try working with a good Insurance Broker.  They will be able to help you navigate much better and put properties into proper policies and with good performing companies at competitive rates.  Also, treat a broker like a contractor.  Sometimes brokers have different companies they work with and can compete differently on rates and coverages.  I currently have properties under Berkshire and American Family and my personal stuff under another which has my personal umbrella.