$1M Umbrella Insurance Policy
I mentioned I received an email from Geico about an umbrella insurance policy last week and how I probably didn’t need it, well today I gave Geico a call after every single commenter suggested that I probably did need it. Geico requires that you have $300,000 liability coverate for both auto and homeowners (which I do already have) so a $1M umbrella insurance policy will cost me $124 a year, or a mere $10.33 a month . A $2M umbrella insurance policy would only cost me $205 a year, or $17.08 a month.
I will shop around (though I don’t see how the prices could change) and probably get the insurance within the next week or two.
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There are 7 comments, add your thoughts now!
Good decision. It’s well worth it. And with your newfound Super Bowl wealth, you cartainly can afford it.
Yeah, that Super Bowl win makes the first year of a $1M policy essentially free. Just win a Super Bowl bet every year and you’re golden.
Wow, just noticed that my comment above was my 100th. I’m going to retire now.
I’m going to retire too — at 101.
Jim.
Did you get the policy from Gieco. What is the rate they quoted you?
AP
AP - I haven’t yet, I’ve been busy and it sort of fell off my radar. The quote was for $124 for the whole year, I assume since nothing has changed in my situation in the last two months that is still a relatively accurate quote.
Jim,
Thanks for sharing.
AP
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