[retiredguy123]

Originally Posted by manaboutown

I have had a $5M umbrella policy with State Farm for many, many years. I do not know if they go higher than that these days. That was the limit when I took it out. The premiums do go up with every yearly renewal but I feel it is at least important if not essential for me to have.

To me, a $5 million umbrella policy can make sense for some people. But a $1 million umbrella policy is usually too expensive to justify the cost vs the coverage. If you only need $1 million, you are better off shopping for individual policies that offer higher liability limits within the basic auto or homeowner's policy. Both State Farm and Allstate are good choices for high available liability limits.

[kkingston57]

Originally Posted by billethkid

Yes it seems like everything is going up but today's surprise.....annual renewal of State Farm umbrella policy with a 42% increase over last year. The policy is a standard $1,000,000 policy.
The reason given was since there has been no significant increase over recent years and increasing claims they are just "...catching up...".

I advised them it was time to start shopping.

Any similar experiences with Umbrella coverage?

Same policy as yours but not with State Farm. 10 years ago $250. Now close to $800. Do have 4 vehicles including the golf cart

[kkingston57]

Originally Posted by BillyGrown

Last paid about 1300 for the house, auto is 900 every 6 months and golf cart is 75 per year. So we pay about 3175 per year here in Florida for insurance.

Who is your agent and what are your liability limits? Sounds great and I was in the insurance business

[Cliff Fr]

You can blame attorneys Dowe, Sue and Cheatem

[Spartan86]

Originally Posted by billethkid

Yes it seems like everything is going up but today's surprise.....annual renewal of State Farm umbrella policy with a 42% increase over last year. The policy is a standard $1,000,000 policy.
The reason given was since there has been no significant increase over recent years and increasing claims they are just "...catching up...".

I advised them it was time to start shopping.

Any similar experiences with Umbrella coverage?

Yes,
I have had my auto and umbrella with Connect by AmFam (Costco) for several years. Had my Homeowners with them in OH as well. I was about $575 for $2Mil last July. My renewal just arrived at $1316. I’m thinking my auto renewal may be a little eye watering as well - I did get a letter last year saying they were no longer writing new business here. I’m thinking I will be encouraged to move on. I had a SF quote yesterday for a similar price. They quoted auto as well so I’m not sure if that included any bundled “savings” . I have another quote coming through an independent so we'll see.