Bob's Insurance and Umbrella Policies

[fiftyincher]

For those of you that have policies through Bob and umbrella policies with your home, did your umbrella policy cost increase a lot when you switched to Bob? Or did you leave the umbrella alone and not have it cover boating accidents?

[Catch 22]

To my knowledge, some companies will not even offer umbrella policies if they do not insure all aspects of your liabilities. They want to ensure that they have acceptable limits in place for all perils to protect their exposure as well as the insured's. Others may have another perspective.....but that's my take.

good luck...........

[fiftyincher]

Thanks Catch.
For anyone else that's curious, I got word that I can still have the umbrella coverage but the cost goes up $100 year. This is through State Farm.

[tritonman]

I just had to raise my liability on the boat to 500 k. Same as my umbrella. 34 dollars extra

[CraigM]

I have insurance with several companies Hartford , Countrywide and others due to thier being in several states there was no change when I switched the marine insurance to Bob , perhaps the cost to cover multiple properties, vehicles and insurers had already been factored into the umbrella . But no ,switching to agreed value thru Bob made no change in umbrella coverage cost.

[Fabian77]

This is very nice and decent post thanks a lot for posting it.....!!!

[dangerousoldman]

typically insurance companies give a discount on umbrellas if all your personal policies (auto, home, rentals, boats etc) are with them. If you put one of those policies outside with another company then you generally lose that discount for having all the policies with the same company. If you already have multiple companies handling your personal insurance then changing the boat ins to a different company wouldnt make a difference as you are probably not getting the discount anyway. I've been an ins agent for the last 20 years and from what I see Bob is very knowledgeable and upfront about boat ins. Having multiple companies to deal with for a particular line of insurance can be a real cost savings for the client. I just picked up my new boat yesterday and put my boat insurance through Foremost Ins Company (Bob probably has them in his book of business.) I covered the boat and motors and trailer for 45k agreed value, 3k on contents and 500k liability and took their top of the line coverage including enhanced towing (anywhere) and tournament coverage etc for around 250 a year with a 400 deductible. Foremost has 3 tiers of coverage. If I had taken the lower tier ( no tournament coverage etc) then it would have been around 180 a year. Bob, any input on the new Foremost's policies?