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I have an umbrella policy which requires me to have all my insurance through the same company since they want the liability limits to be high on car and auto before they write you an umbrella policy.I am trying to get quotes for 1 car and 3 houses. It is a huge pain in the ass, 30 minutes on the phone for ONE house quote alone, only to find out it is twice what I'm paying now.
One company will have cheaper car insurace by as much as 50% but have far more expensive home and landlords insurance and vice versa. At the end of the day, since I own more houses than I do cars, it would be cheaper to go with the one that has cheaper home owners policies but a more expensive auto policy.
Ideally I would like to have an umbrella policy seperate from my home, rentals, and auto. Any ideas or suggestions?
I have an umbrella policy which requires me to have all my insurance through the same company since they want the liability limits to be high on car and auto before they write you an umbrella policy.I am trying to get quotes for 1 car and 3 houses. It is a huge pain in the ass, 30 minutes on the phone for ONE house quote alone, only to find out it is twice what I'm paying now.
One company will have cheaper car insurace by as much as 50% but have far more expensive home and landlords insurance and vice versa. At the end of the day, since I own more houses than I do cars, it would be cheaper to go with the one that has cheaper home owners policies but a more expensive auto policy.
Ideally I would like to have an umbrella policy seperate from my home, rentals, and auto. Any ideas or suggestions?
of course it's higher...you are changing your coverage to higher limits...apples vs oranges.
huge pain in the ass? meh. if that's the case then why bother to protect your assets?
So I could get a policy with AIG just for an umbrella and have my houses and cars separate?
Yes. Sure, you may pay more for it, but you have more assurances that you are buying real insurance.
Insurance is regulated at the state level. I am not an insurance agent in your state, but I believe it is worth a try. I know AIG, or one of its subsidiaries, does it in my state.
Some insurance companies in some states do not speak to customers directly, they deal only through agents. Try to contact AIG directly and/or find a reputable agent near you.
AIG seems to be doing well. Its stock price is keeping pace with other listed insurance companies and it pays a small dividend.
In addition, each state has, or should have, an insurance guarantee fund, though usually for life insurance and annuities, so I am not sure how that applies to umbrella liability insurance. Check the rules for your state.
Good Luck!
Last edited by bale002; 07-24-2014 at 03:01 AM..
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