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$1M Umbrella Insurance Policy

Posted By Jim On 02/06/2006 @ 11:55 am In Insurance,Personal Finance | 8 Comments

I mentioned I received an email from Geico about an umbrella insurance policy [3] 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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[3] email from Geico about an umbrella insurance policy: http://www.bargaineering.com/articles/do-i-need-a-personal-umbrella-insurance-policy.html

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