Do you currently own an umbrella insurance policy?

Adam Taggart
By Adam Taggart on Fri, Feb 23, 2018 - 8:36pm
No
34% (36 votes)
Yes (though I should probably increase my coverage limit)
19% (20 votes)
Yes (and I'm happy with my current coverage limit)
48% (51 votes)
Total votes: 107

In light of our article explaining umbrella insurance, we're curious to know what % of PP.com readers own any.

Please take a moment to take this quick poll (it's anonymous)

thanks!

Adam

4 Comments

TwinTown's picture
TwinTown
Status: Member (Offline)
Joined: May 10 2010
Posts: 12
Umbrella despite no advice

I added umbrella coverage in my early 40's while chairing a non-profit board. I think I read an article in Kiplinger or similar that prompted me.  My estate lawyer nor financial planner never brought it up which is a reminder to tend your own garden.

AaronMcKeon's picture
AaronMcKeon
Status: Bronze Member (Offline)
Joined: Apr 29 2014
Posts: 76
Weird Timing

Your piece on umbrella insurance was oddly timely.  I have literally just been exploring the possibility of taking it out.  With my renters and auto insurance I can get $1mm coverage for $160 per year, or $1mm extra for every additional $100.  Was considering pulling the trigger and your piece has put me across the line - just need to decide the actual coverage.

So, I'm a "No but soon to be yes!"

Stabu's picture
Stabu
Status: Silver Member (Offline)
Joined: Nov 7 2011
Posts: 109
Surprised that so Many Have Umbrellas

I must admit that I didn't expect 69% (currently) of the survey takers having an umbrella policy. I know, I know, there's self selection and all the rest, but the number is still far, far, higher than what I expected. My expectations was that 40% at most would have one.

 

tomadkins's picture
tomadkins
Status: Bronze Member (Offline)
Joined: Sep 9 2009
Posts: 33
Umb

I increased my existing policy limits from $1M to $4M .

Too many tv and billboard incentives “one call that’s all”.

Or my favorite:  “wrecks to checks” !   Luring others to seek a suit over anything.

It is cheaper peace of mind.

 

At the same time...I segregate the title holder to various asset classes too.  Segregate vs aggregate when risk is involved.

Of course....I don’t receive a monthly statement on my lifetime of accumulation.  I don’t want a monthly statement either !

Thanks for the prompt, Adam.

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