Insurance, Personal Finance 
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$1M Umbrella Insurance Policy

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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.

{ 8 comments, please add your thoughts now! }

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8 Responses to “$1M Umbrella Insurance Policy”

  1. FMF says:

    Good decision. It’s well worth it. And with your newfound Super Bowl wealth, you cartainly can afford it.

  2. 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.

  3. Wow, just noticed that my comment above was my 100th. I’m going to retire now.

  4. FMF says:

    I’m going to retire too — at 101. ;-)

  5. AP says:

    Jim.

    Did you get the policy from Gieco. What is the rate they quoted you?

    AP

  6. jim says:

    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.

    • carol says:

      Have u checked AMICA Ins. Co. Excellent ins. co. Customer service is very good. They have been around forever!!!

  7. AP says:

    Jim,

    Thanks for sharing.

    AP


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