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Switch auto/home/umbrella insurance

September 25th, 2018 at 10:03 pm

Totally my fault because of scraping of my car this June 2018. It ended up costing $7000 to repair so I submitted a claim to my insurance company. It was an at fault accident even without anyone else involved. But my renewal rate was $1800 for 6 months. YIKES. So I shopped around and switched from progressive to Safeco. We managed to renew for $2225 for 12 months, seems to me like a great deal. Our home policy was $1000 for 12 months and $247 for Umbrella insurance for the year. I'm tempted to make this the last year for umbrella insurance. I don't think we need it anymore since we don't rent, don't live with others, and are more secure. But I guess it's sort of like term life insurance though you don't need it it's nice to have.

That being said in May 2019 I'll switch again back to Ameriprise. I just really like their customer service and I haven't really found the same qualify of service at any of the other insurance companies we've had. Last year we had commerce and they were awful. Progressive was better but still not great. I'm not sure how safeco will be but I'm on them for 9 months.

Ameriprise through costco is the cheapest I've found and the best customer service. We previously had them for 10 years and they are phenomenal. They are very responsive, very helpful, and super great at paying out claims. If anyone has not shopped through costco and checked out ameriprise I certainly would give them a shot.

5 Responses to “Switch auto/home/umbrella insurance”

  1. Jenn Says:

    I've read the opposite rationale for umbrella insurance: the higher your net worth, the more important it is. Because a lawsuit that determines that you're negligent can wipe out your savings (retirement too). The older you are and the more you've accumulated, the riskier that would be for you.

  2. Dido Says:

    Agree with Jenn above. We live in a litigious society today, and the purpose of umbrella insurance is to cover you for those really unlikely but very costly possibilities. Another name for it is personal catastrophe insurance. Think, for example, of the case (as happened to a friend of mine) where a toddler suddenly runs out in the street in front of you and you hit the child and kill her and the parents sue you successfully. The more you are worth, the more they can and will go after you for! Umbrella insurance costs a trifle (relatively speaking), you probably won't use it, but in those rare cases where you would, you will be very, very glad that you have it!

  3. PatientSaver Says:

    For what it's worth, I very recently decided to get an umbrella policy, and I got it with the same insurer who has my car and home insurance, Safeco. It was $211 for the year. I felt it was something of a vulnerability for me, at this stage of life, and with the assets I have.

    I've been with Safeco for several years (auto and home) after my independent agent said they really were the lowest price. As with other insurers, my premiums have risen each year (although I have never filed a claim in 23 years), but I think this would happen with any insurer.

    Currently, I'm paying $589 for auto (I dropped collision but had to slightly increase my liability (an extra $20) to be eligible for the umbrella policy), and I'm paying $750 for home insurance. Both these policies also reflect the highest possible deductible, which helps to control costs. If you haven't done that, it's a simple way to lower your premium.

  4. frugaltexan75 Says:

    I'm wishing we had umbrella insurance right now - with my DH's accident (hitting a bicyclist) - we just don't know what's going to happen. If we had umbrella insurance, there'd be a lot more peace of mind.

  5. livingalmostlarge Says:

    Wow I had no idea about frugaltexan your husband hitting a bicyclist. Are they ok?

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