how much, on average, does it cost to add an umbrella policy to your homeowners insurance? i'm just looking

Question

for a starting point. a general ballpark figure or range for how much this type of additional insurance costs. thanks in advance for any help.

Answer 1

Of course, it depends. But a few hundred a year usually. You may be required to maintain certain other policies, and at specified limits, and maybe also with the umbrella writing ins co, in order to qualify.

Answer 2

What PJ had to say is very accurate. I would just like to add that it's a seperate polich not an amendment to your homeowner's policy and you have to buy the Umbrella Policy from the Co. who sold you the Homeowners. You are also going to have to add additional liability coverage on your cars, boats,etc. but that's well worth the cost. Just call your agent. With the computer he or she can give you an exact amount in short period of time.

Answer 3

I'd say a base $1M policy would run around $150 year; each additional $1M add about 60% more. The base typically covers 1 owner occupied house and two autos, all underlying policies would be written by the same company as the umbrella.

Add about $30/year for each additional property, auto, boat, motorcycle, RV, yada yada whatever thing you have insurance for.

In Ohio, uninsured/underinsured motorist coverage is excluded from umbrellas, to ADD the coverage is around $100/year.

All ballpark of course.

Answer 4

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RE How much, on average, does it cost to add an umbrella policy to your homeowners insurance? i'm just looking

for a starting point. a general ballpark figure or range for how much this type of additional insurance costs. thanks in advance for any help.

Answer 5

5 million umbrella policy costs me about 350 a year. Worth every penny for the peace of mind that my home will not (well barring a complet disaster) be taken if I have an accident and someone is hurt.

Answer 6

Ernesto's answer is correct.........He's RIGHT ON. Just remember that for each home, car, driver, boat, etc..that is added, the premium goes up. So this coverage is relatively inexpensive for the protection that you get from it.

Answer 7

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