Quote:
Originally Posted by RockCrusher
That's a pretty attractive premium cost.
I do not have an umbrella policy. My limited experience has been one signs up for an UP at a very attractive rate. Next year the premium goes up some. Then the year after that some more. And so on.
A (retired) friend of mine signed up for a $1M UP at (way back then) $75/year! But after several years of premium increases he dropped the UP coverage. The increase in the cost per year was becoming troubling and it wasn't leveling off.
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These insurance rates vary greatly due to a lot of factors; geography, age, driving record, home/auto same carrier, etc.
It is very hard to compare without knowing a lot of the circumstances behind the person.
The peace of mind I get with the $2m in coverage for about $500 a year is well worth it. Besides, as it has underinsured/uninsured coverage I can go back after my own policy if I suffer injuries not covered by the other person. I know there are better companies out there than SF but having been grandfathered in to keep that policy means a lot.