I have it with Geico for 1 million. It was just $120 / year. But after talking on this forum, I increased to 2M. You guys scared me with your stories. Because of this policy, I can reduce my regular insurance to cover only 300K limit since Umbrella kicked in after 300K, so I actually save some money in my regular insurance too. Also get some discount on my car insurance since I have it with Geico too. IMO, it is a peace of mind thing with not a lot of downside.
You want to cover yourself against frivolous lawsuits. Didn’t you say you had some mold issue in your rental, @Jil? That can be serious stuff. So definitely get yourself some coverage. It’s like the price of a good dinner for a whole year’s worth of coverage. IMO it’s not why, but why not.
They have covered four people, all the cars and all the rentals. They have told me this is our personal umbrella insurance.
Any claims such as my business law suits resulting from my S-CORP/LLC will be excluded and these entities must be covered by commercial business insurance.