Anyone knowledgeable about umbrella insurance policies?

[Capt_Uhura]

Hello Hive,

 

I spoke w/ my State Farm agent today. She informed me that if you have more than 2 violations/accidents in your lifetime after initiating the policy, you are not eligible for an umbrella policy. That just seems unrealistic to me.

 

Is this true for all umbrella policies? I've googled it and nothing comes up.

 

Thanks,

Capt_Uhura

[Journey]

I work for the company where you are in good hands and I've never heard of that. Which isn't saying much!

[kalanamak]

Hello Hive,

 

I spoke w/ my State Farm agent today. She informed me that if you have more than 2 violations/accidents in your lifetime after initiating the policy, you are not eligible for an umbrella policy. That just seems unrealistic to me.

 

Is this true for all umbrella policies? I've googled it and nothing comes up.

 

Thanks,

Capt_Uhura

 

I've had two accidents, and they only asked in the last 5 years. XH had had an accident and we had to wait a year, as the rest of his record was clean. They asked what kind of dog we had, if we skydove (it was not life insurance....I was wondering if it meant we would smash into a farmhouse and be sued :)), etc.

[elegantlion]

I work for the company where you are in good hands and I've never heard of that. Which isn't saying much!

 

I used to work for the good hands people too. I was also recently in a State Farm office and asked if they knew what a "fire" policy was. They looked at me like I had two heads. Amazingly I remember from those people with the blue hands that fire policies used to exist, don't know if they still do.

 

I would ask your State Farm agent to see the underwriting guidelines on umbrella policies. I've never heard of that either.

[Capt_Uhura]

Thanks for your input. I will call a few agencies today and ask around. My State Farm agent made it sound like it was standard policy everywhere.

[Dobela]

Definately call around. My dh sells insurance for a company that is 'on your side', and he isn't aware of a rule like that. However, claims are now kept in a data base somewhere that all companies have access to. If you are looking for coverage and have claims already, they may still count against you. The type of claim may be the most important factor rather than the actual number.

 

I don't know how long your agent has been working, but you may want to call an agent with the same company that has been sellingfor a much longer time - an old timer. They usually know more and sometimes are able to write a wider variety of policies with the company because they are 'proven' and respected in the company more than a newer agent.

 

The reason they are now asking questions like 'do you skydive' is sort of a character finding thing. If you engage in risky behaviors outside of the home then you are more likely to engage in risky behaviors around your home.

[kalanamak]

 

The reason they are now asking questions like 'do you skydive' is sort of a character finding thing. If you engage in risky behaviors outside of the home then you are more likely to engage in risky behaviors around your home.

 

Aha! The dawn comes up. Some people in my profession make 10 times what I do, and mischief has been known to occur. (And I'm a firm believer that money doesn't change a man, but makes him more like he is.)

[elegantlion]

I've had two accidents, and they only asked in the last 5 years. XH had had an accident and we had to wait a year, as the rest of his record was clean. They asked what kind of dog we had, if we skydove (it was not life insurance....I was wondering if it meant we would smash into a farmhouse and be sued :)), etc.

 

...as long as you don't skydive with a pitbull type of stuff. :lol: Or make sure the Rottweiler doesn't drive.