I currently have an umbrella policy with Geico (who also holds my auto insurance, but not my homeowners). I read the thread about excess liability vs umbrella policies, and now I'm digging into policy documents. My insurance broker has also given me quotes from Monoline and Stillwater, and I got my own quote from RLI. They all fall within about $50/year of each other for $3M coverage.
Any tips on how to compare all these policies? It appears the Geico policy is just excess liability with a LONG list of exclusions, but I'm struggling to interpret the others. While I do trust my broker, I also just want to know things to look for to figure out which policy is best, since they're all about the same price. Wondering if there's any specific language to look for or common exclusions to make sure I don't have.
Is there any risk to having all my insurance with different carriers? Or would I be better off keeping Geico just to have Auto/Umbrella together?
Happy to upload policy docs if that's acceptable.
Compare Umbrella Policies
byu/Technical-Platypus64 inInsurance
Posted by Technical-Platypus64
2 Comments
Your broker could get sample policies and go over them with you.
Remove any personal info from the quotes or policy wording and plug them in to ChatGPT ask it to tell you the differences. Then check its work – you’ll know what to look for to see if it’s legit or not.