Go Back  The Hull Truth - Boating and Fishing Forum > BOATING FORUMS > Dockside Chat
Reload this Page >

Umbrella Insurance - Massachusetts

Notices

Umbrella Insurance - Massachusetts

Old 05-15-2012, 11:09 AM
  #1  
Senior Member
Thread Starter
 
Join Date: Feb 2010
Posts: 161
Likes: 0
Received 2 Likes on 2 Posts
Default Umbrella Insurance - Massachusetts

I would like to add an umbrella policy to my existing boat and auto insurance, both of which are through Geico. I have called around (progressive, travellers) but every company seems to require you to switch your auto policy in order to buy their umbrella.

Geico in MA offers umbrella policies through a 3rd party agency, I believe called RLI. Anyone have any experience with this? I am looking for a 1 million dollar policy.
Old 05-15-2012, 11:20 AM
  #2  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Aug 2001
Location: West Carolina
Posts: 22,017
Received 1,594 Likes on 862 Posts
Default

Originally Posted by Xterra3109 View Post
I would like to add an umbrella policy to my existing boat and auto insurance, both of which are through Geico. I have called around (progressive, travellers) but every company seems to require you to switch your auto policy in order to buy their umbrella.

Geico in MA offers umbrella policies through a 3rd party agency, I believe called RLI. Anyone have any experience with this? I am looking for a 1 million dollar policy.
RLI has been doing stand alone umbrella policies for years. Be sure it is a true umbrella and not a "following form".
Old 05-15-2012, 11:24 AM
  #3  
Admirals Club Admiral's Club Member
 
Join Date: Dec 2010
Location: Central, FL
Posts: 13,079
Received 3,108 Likes on 1,460 Posts
Default

They all want the auto policies because they make big $$ on them. I've been getting quotes the past two weeks for my insurances, and they all want me to move my autos with them..............but the auto policies have always been hundreds higher.
Old 05-15-2012, 11:59 AM
  #4  
Senior Member
 
Join Date: Feb 2012
Location: NC
Posts: 323
Received 26 Likes on 17 Posts
Default

Forget Geico and go to an Independent Agent. They can get everything you want with the same carrier more than likely.
Old 05-15-2012, 12:18 PM
  #5  
Senior Member
 
Join Date: Aug 2008
Location: Savannah Ga
Posts: 374
Likes: 0
Received 1 Like on 1 Post
Default

Most carriers umbrella policies require the auto as an underlying policy because most of the liability losses are derived from auto claims. And it does play a part that they want more premium generated to offer the umbrella coverage.

They are also goingto require certain minimum limits on the auto boat home and any other underlying coverages as well.
Old 05-15-2012, 03:35 PM
  #6  
Senior Member
 
Join Date: Aug 2007
Location: La Jolla, CA
Posts: 756
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by Shag View Post
RLI has been doing stand alone umbrella policies for years. Be sure it is a true umbrella and not a "following form".

Shag is correct. RLI is a solid company that's been around. Umbrella form is ideal compared to following form excess if you can get it.

RLI stands for replacement lense insurance. They started selling insurance for contact lenses. Just a bit of insurance trivia for you.
Old 05-15-2012, 04:11 PM
  #7  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Aug 2001
Location: West Carolina
Posts: 22,017
Received 1,594 Likes on 862 Posts
Default

Originally Posted by Jus Teasin View Post
They all want the auto policies because they make big $$ on them.
Yes and no. A lot of carriers are tired of the Geico's and Progressives writing the auto and leaving them with the homeowners which are underpriced in a lot of areas. They also like to control the claim at the lower level instead of having to co-ordinate with another company. Plus they can "keep an eye" on the underlying limits which they can't do if another carrier is writing the auto.

Originally Posted by Bird Rock View Post
RLI stands for replacement lense insurance. They started selling insurance for contact lenses. Just a bit of insurance trivia for you.
Been in this business going on 30 years and that's the first time I've heard that. Learn something new every day.
Old 05-15-2012, 05:00 PM
  #8  
Senior MemberCaptains Club Member
 
Join Date: Aug 2002
Location: MA and ME
Posts: 16,795
Likes: 0
Received 15 Likes on 11 Posts
Default

As a side note to insurance in these parts


Anyone with higher end properties might be doing themselves a huge favor in shopping. Saved 15K this year with a single phone call for the exact same coverage, company ratings, and deductibles.
Just thought I'd share it with you.
Old 05-15-2012, 05:24 PM
  #9  
Senior Member
 
Join Date: Jul 2010
Location: Coastal South Carolina
Posts: 2,919
Likes: 0
Received 151 Likes on 108 Posts
Default

Originally Posted by Shag View Post
RLI has been doing stand alone umbrella policies for years. Be sure it is a true umbrella and not a "following form".
rli allows u to have different auto and house insurance companies.
1mil umbrella is about $350 a year
Old 05-15-2012, 07:18 PM
  #10  
Senior MemberCaptains Club Member
 
Join Date: Jan 2004
Location: Pittsburgh, Pennsyltucky
Posts: 7,452
Received 1,604 Likes on 752 Posts
Default

I have an mbrella policy thru Erie insurance. Back when i owned my Grady, it was insured through Progressive. Erie allowed me to cover my boat through my umbrella policy even though the boat policy was through Progressive.
Old 05-15-2012, 07:30 PM
  #11  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Aug 2001
Location: West Carolina
Posts: 22,017
Received 1,594 Likes on 862 Posts
Default

Originally Posted by Brad1 View Post
I have an umbrella policy thru Erie insurance. Back when i owned my Grady, it was insured through Progressive. Erie allowed me to cover my boat through my umbrella policy even though the boat policy was through Progressive.
Erie will allow boat liability to be with another carrier if you carry at least $300K on the boat policy. That's because they realize that their boat rates suck. But they don't like to write an umbrella over another carrier's personal liability or auto policy. Back to the OP. If Auto Owners is licensed in your state, they may write a stand alone policy. Only problem is that they require $500K on the underlying auto policy and some carriers won't offer more than $250/500k.
Old 05-16-2012, 06:27 AM
  #12  
Senior Member
 
Join Date: Feb 2012
Location: NC
Posts: 323
Received 26 Likes on 17 Posts
Default

We sell Erie and they are my number 1 pick when it comes to boat insurance. Maybe it is because of our different locations in the state but their rates are very competitive for us and they have a great policy that will be backed by great service with Erie. I have read the policy of other carriers and was not impressed.

Originally Posted by Shag View Post
Erie will allow boat liability to be with another carrier if you carry at least $300K on the boat policy. That's because they realize that their boat rates suck. But they don't like to write an umbrella over another carrier's personal liability or auto policy. Back to the OP. If Auto Owners is licensed in your state, they may write a stand alone policy. Only problem is that they require $500K on the underlying auto policy and some carriers won't offer more than $250/500k.
Old 05-16-2012, 06:33 AM
  #13  
Senior Member
 
Join Date: Jul 2010
Location: Coastal South Carolina
Posts: 2,919
Likes: 0
Received 151 Likes on 108 Posts
Default

I got 3 different quotes from state farm on umbrella - over 2 days-
first it was about $200, then they said no, I had to put my car insurnace with them to get the $200 rate, I asked are you sure,
they called back said they had called and it would be like $300 w/o having state farm car ins I said OK, and got in car to go by there to pay,
they then called an hour later to my cell and said it was $400+ something and they "did not think it was worth it to me".

so I felt like I was dealing with buying a used car and went elsewhere.

I did not like the pressure to put car insurance with them, what happens when they have all your insurance? they start raising rates?
Huge money spent on tv ads for car ins progressive geico farmers s/f geico, must be a rich bidness
Old 05-16-2012, 09:19 AM
  #14  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Aug 2001
Location: West Carolina
Posts: 22,017
Received 1,594 Likes on 862 Posts
Default

Originally Posted by Boost View Post
We sell Erie and they are my number 1 pick when it comes to boat insurance. Maybe it is because of our different locations in the state but their rates are very competitive for us and they have a great policy that will be backed by great service with Erie. I have read the policy of other carriers and was not impressed.

I probably shouldn't have said their rates suck but we tend to do better with other companies. Having said that I have all 3 of mine with Erie, not because of price but because of their claims service.
Old 05-16-2012, 01:52 PM
  #15  
Member
 
Join Date: Mar 2011
Location: CT-MA-FL
Posts: 93
Received 2 Likes on 2 Posts
Default RLI in MA &FL ?

Are there agents who sell RLI in MA & FL without requiring any other insurance to be purchased from them?
Old 05-16-2012, 02:07 PM
  #16  
Senior MemberCaptains Club Member
 
Join Date: Oct 2004
Location: NJ & Greenport LI
Posts: 864
Likes: 0
Received 304 Likes on 139 Posts
Default

I'm an Independent Agent in NJ, 20 years experience myself, and my family has owned this agency for over 80 years.

Absolutely nothing wrong with RLI. We use them frequently, but only if we can't put it all together for what ever reason. One example is that the insured may not have auto insurance (company car, or they just may not drive), or the risk is higher (tickets, accidents, young drivers etc).

I second the recommendation to call an Independent Agent. Multiple companies quoted, one call. Don't be alarmed if you haven't heard of the company they quoted you. It just means the company isn't spending millions of dollars on advertising.
Old 05-16-2012, 07:08 PM
  #17  
Senior Member
 
Join Date: Feb 2012
Location: NC
Posts: 323
Received 26 Likes on 17 Posts
Default

Originally Posted by Strike1 View Post
I'm an Independent Agent in NJ, 20 years experience myself, and my family has owned this agency for over 80 years.

Absolutely nothing wrong with RLI. We use them frequently, but only if we can't put it all together for what ever reason. One example is that the insured may not have auto insurance (company car, or they just may not drive), or the risk is higher (tickets, accidents, young drivers etc).

I second the recommendation to call an Independent Agent. Multiple companies quoted, one call. Don't be alarmed if you haven't heard of the company they quoted you. It just means the company isn't spending millions of dollars on advertising.
Well said
Old 05-17-2012, 04:09 AM
  #18  
Admirals Club Admiral's Club Member
 
Join Date: Nov 2008
Location: Somewhere in the middle of Michigan
Posts: 10,569
Likes: 0
Received 1,333 Likes on 714 Posts
Default

Originally Posted by edwardh1 View Post
rli allows u to have different auto and house insurance companies.
1mil umbrella is about $350 a year
$350/year sounds pretty expensive for $1 mil umbrella, but maybe that's the non-discounted price. A $2 mil umbrella costs me $225/year, after discounts because I have all my insurance through the same agent and company.

Last night I learned something interesting about umbrella policies, which may only apply to businesses. We learned our small utility company has an "aggregate" $3 mil umbrella policy, so we were not covered for up to $3 mil/incident. When lifetime liability losses total $3 mil, our policy coverage is exhausted. Today I'm going to check my personal umbrella policy to see if it's the same.
Old 05-17-2012, 06:53 AM
  #19  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Aug 2001
Location: West Carolina
Posts: 22,017
Received 1,594 Likes on 862 Posts
Default

Originally Posted by yarcraft91 View Post
Last night I learned something interesting about umbrella policies, which may only apply to businesses. We learned our small utility company has an "aggregate" $3 mil umbrella policy, so we were not covered for up to $3 mil/incident. When lifetime liability losses total $3 mil, our policy coverage is exhausted. Today I'm going to check my personal umbrella policy to see if it's the same.
That's odd. The aggregate is usually an annual aggregate.
Old 05-17-2012, 07:03 AM
  #20  
Senior Member
 
Join Date: Aug 2008
Location: Savannah Ga
Posts: 374
Likes: 0
Received 1 Like on 1 Post
Default

I've only seen annual aggregates as well.

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.