Is an Umbrella Policy Worth It?
Just like home and car insurance in California, it seems Umbrella premiums have skyrocketed. Is anyone else in California experiencing this? I’m with State Farm.
Last year, my $2M Umbrella policy was only a few hundred dollars. Now, it’s up for renewal at $2400/year—without any claims, accidents, or lawsuits. I have 3 cars, 3 drivers, and I own my home, plus no pets or major liability concerns.
Has anyone else faced similar year-over-year increases?
It sounds like you’re facing a significant increase in your umbrella premium, which can be really frustrating! Yes, many people in California have reported steep rises in umbrella insurance costs over the past year, and it seems to be a trend across various providers, not just State Farm. This could be due to a combination of factors like increased claims costs, higher prevalence of lawsuits, and changes in the overall insurance market.
If your coverage needs haven’t changed and you have a good track record, it definitely feels unfair to see such a jump in premiums. It might be worth shopping around or talking to an insurance agent to see if there are other options or discounts available. Some companies may offer better rates or different coverage options that could help keep your costs down. Have you considered comparing quotes from other insurers?