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Stork
Joined: 01/01/2005
Posts: 51,485
Likes: 49,635
Stork
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I have seen some "excess" verdicts that went beyond what insurance the

defendant had. So yes, it is best to have the umbrella policy. Also, what very often happens is the original suit is in excess of what the policy amount is. The insurance company will put you on notice immediately that there is the possibility coverage may not extend to the entire award if you were to lose. That forces the defendant to hire an attorney, at their own cost, to be involved in the defense of the suit. And that cost is on the defendant. And can be significant. So insurance pays the defense costs, and any verdict that pay go against you. It is best to get the umbrella.
Posted: 08/04/2022 at 01:02 PM ET
(In response to this post by Vippie1)

Thread Replies (30)

Full Thread →
Umbrella insurance - thoughts on carriers (details inside)
WestyHokie • 08/04/22 09:58 AM ET
Have you looked into getting rid of the kid? TIC**
MP4VT2004 • 08/04/22 08:52 PM ET
Been trying for years **
WestyHokie • 08/04/22 09:11 PM ET
My umbrella has always been with the same company as my Auto and Home Ins
Hokie in CT • 08/04/22 06:03 PM ET
Recommend adding parasol coverage to base plan**
ColoVT82 • 08/04/22 12:25 PM ET
…sounds kind of shady**
chumley • 08/04/22 01:14 PM ET
I've always been of the mind
Vippie1 • 08/04/22 11:43 AM ET
I have seen some "excess" verdicts that went beyond what insurance the ◄
Stork • 08/04/22 01:02 PM ET
There are a lot of factors that go into umbrella rating including location,
75Hokie • 08/04/22 11:39 AM ET
Appreciate it, literally all we changed was states and added one driver
WestyHokie • 08/04/22 11:57 AM ET
Shop around - I have 1M umbrella ~$30/month**
FfxStationHokie • 08/04/22 10:57 AM ET
I got cancelled with teen drivers.**
Lucky77 • 08/04/22 10:25 AM ET
cancel culture **
bigbadbird • 08/04/22 10:27 AM ET
The difference may be plaintiff's law in Georgia vs Colorado. Since an
Stork • 08/04/22 10:23 AM ET
We have everything with SF, and they want $1300 for umbrella a year
WestyHokie • 08/04/22 11:48 AM ET
Let me offer some insight.
HokieBC3 • 08/04/22 12:26 PM ET
This is and your CO info in a post below is great info.
RJHokie • 08/04/22 09:06 PM ET
interesting. thanks for posting the information**
radhokie1 • 08/04/22 01:14 PM ET
Thank you for taking the time to do that
WestyHokie • 08/04/22 12:49 PM ET
The difference in states was huge. Yikes**
Stork • 08/04/22 12:57 PM ET
It's actually more expensive in CO.
HokieBC3 • 08/04/22 01:03 PM ET
Thanks weed. **
GreenvilleVT • 08/04/22 01:28 PM ET
have you seen those inverted umbrellas? **
bigbadbird • 08/04/22 10:18 AM ET
Couple things. Some insurers just want nothing to do w/ teen drivers so
RhinoVT • 08/04/22 10:18 AM ET
I use Erie for homeowners, auto and umbrella**
BRVT • 08/04/22 10:17 AM ET
I had Erie for years, even though I worked for State Farm. Ha But when my
Stork • 08/04/22 10:26 AM ET
yeah not long after signing up with erie had the big wind storm
BRVT • 08/04/22 10:41 AM ET
Umbrellas are pretty cheap, don't think they really need to be insured.**
HokieNoVA • 08/04/22 10:13 AM ET
"signed, Oswald Cobblepot"**
WestyHokie • 08/04/22 11:53 AM ET
Good idea if you have a pool
GS VT fan • 08/04/22 11:34 AM ET
I lease with an option to buy**
statmanfromHCyrs • 08/04/22 10:22 AM ET