GEICO umbrella insurance limited to $1M because of international property

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Topic Author
crazychris
Posts: 29
Joined: Thu May 17, 2018 2:41 pm

GEICO umbrella insurance limited to $1M because of international property

Post by crazychris »

Hi,
I am seeking umbrella insurance through GEICO. My spouse owns a family home abroad where her mother resides, and it isn't worth all that much. GEICO's policy through RLI is a world-wide policy and the agent says they can't offer coverage > 1M because of our international property ownership.

Is this something standard, and has anyone experienced this? I was quite surprised about this. I'm going to check with other companies, but would like to know if anyone on this forum is more knowledgeable about this policy and whether other companies have this issue as well.

Thanks
Crazychris
tj
Posts: 9317
Joined: Wed Dec 23, 2009 11:10 pm

Re: GEICO umbrella insurance limited to $1M because of international property

Post by tj »

crazychris wrote: Fri May 07, 2021 5:59 pm Hi,
I am seeking umbrella insurance through GEICO. My spouse owns a family home abroad where her mother resides, and it isn't worth all that much. GEICO's policy through RLI is a world-wide policy and the agent says they can't offer coverage > 1M because of our international property ownership.

Is this something standard, and has anyone experienced this? I was quite surprised about this. I'm going to check with other companies, but would like to know if anyone on this forum is more knowledgeable about this policy and whether other companies have this issue as well.

Thanks
Crazychris
I would imagine you can find the coverage you need outside of GEICO.
nalor511
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Joined: Mon Jul 27, 2015 1:00 am

Re: GEICO umbrella insurance limited to $1M because of international property

Post by nalor511 »

I found allstate cheaper than geico for $2mm
Topic Author
crazychris
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Joined: Thu May 17, 2018 2:41 pm

Re: GEICO umbrella insurance limited to $1M because of international property

Post by crazychris »

Thanks very much! I'm exploring State Farm and will also do All State
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orthros
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Re: GEICO umbrella insurance limited to $1M because of international property

Post by orthros »

nalor511 wrote: Fri May 07, 2021 6:11 pm I found allstate cheaper than geico for $2mm
Do you have to have your car and homeowner's insurance with Allstate to get umbrella? I found Allstate's umbrella to be cheaper but their car and homeowner's insurance was at least 2x.
boglerdude
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Re: GEICO umbrella insurance limited to $1M because of international property

Post by boglerdude »

> Do you have to have your car and homeowner's insurance with Allstate to get umbrella?

They all require your auto, because that's where the risk is. Just raise your underlying policies to 1M. 1.5-2M total coverage is enough.
nalor511
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Re: GEICO umbrella insurance limited to $1M because of international property

Post by nalor511 »

orthros wrote: Fri May 07, 2021 6:15 pm
nalor511 wrote: Fri May 07, 2021 6:11 pm I found allstate cheaper than geico for $2mm
Do you have to have your car and homeowner's insurance with Allstate to get umbrella? I found Allstate's umbrella to be cheaper but their car and homeowner's insurance was at least 2x.
I didn't have any car/HO, but they made me add renter's, before they would write $2mm
Oleanmike
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Joined: Sun Oct 13, 2013 12:14 am

Re: GEICO umbrella insurance limited to $1M because of international property

Post by Oleanmike »

Geico refused to write an umbrella policy for me because I was an elected official. The fact that the position had a large liability policy didn't matter.
Oleanmike
Posts: 61
Joined: Sun Oct 13, 2013 12:14 am

Re: GEICO umbrella insurance limited to $1M because of international property

Post by Oleanmike »

Geico refused to write an umbrella policy for me because I was an elected official. The fact that the position had a large liability policy didn't matter.
Topic Author
crazychris
Posts: 29
Joined: Thu May 17, 2018 2:41 pm

Re: GEICO umbrella insurance limited to $1M because of international property

Post by crazychris »

So I got quotes from State Farm. Their home + auto is $ 1289.07 per year more than Geico!

This difference is totally insane. I'm likely going to stick with GEICO and their $1M umbrella policy limit.

Do folks have any other suggestions?
SlowMovingInvestor
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Re: GEICO umbrella insurance limited to $1M because of international property

Post by SlowMovingInvestor »

crazychris wrote: Wed Jun 30, 2021 6:11 pm So I got quotes from State Farm. Their home + auto is $ 1289.07 per year more than Geico!

This difference is totally insane. I'm likely going to stick with GEICO and their $1M umbrella policy limit.

Do folks have any other suggestions?
You could try an unsupported umbrella quote at USLI (another Berkshire company).

See this thread

viewtopic.php?p=6037670#p6037670
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