I currently have a $2M Umbrella policy that costs a ridiculous amount. No tickets or accidents in the last 5 years, excellent credit. Our house is average. The reason is because we have three average cars (soon to be two, returning on lease) and more than the average number of adult children, ages 21-29 who we cover on our policy. The policy charges us several hundred per child to cover them.
Our auto insurance is very reasonable and I have no interest in switching it (may shop later in the year when one of our boys turns 25), but the umbrella is expensive (over $3000). We have Geico for both and when I got it 10 years ago, it was not bad but as each kid started driving is ballooned. We are in NY if that matters. Note, I do not respond to DMs
Posted by Clueless5001
2 Comments
Are your adult children still living with you? And are they still on your car insurance? And what state are you in?
Since you’re happy with your current auto rates, your best move is to contact an independent agent to shop for a standalone umbrella policy. Some carriers specialize in standalone coverage and may be much more competitive than Geico when multiple drivers in that age bracket are involved. Just keep in mind that a standalone provider will still require your underlying auto limits to meet a specific threshold