Insurance Question - Umbrella Liability Policy?

[Doofy]

Keep that policy in effect. You never know when or where something may happen. Even good friends can turn on you in a heartbeat when $$$ could be involved (even when just doing a favor or for free).

 

[fried1765]

For most of my professional career I have carried an Umbrella Liability Policy with a professional coverage rider. The policy covers both personal and professional liability. Considering I occasionally use my tractor to do things like fix the pastor's garden, mow hay for a neighbor etc and that requires driving the tractor on the road, should I maintain this policy? None of the jobs are for pay, we either swap work or it is just to help a friend. The policy isn't expensive on an annual basis.

You better read and understand your umbrella policy very carefully.
I seriously doubt that any umbrella policy will protect you while you are "roading" your tractor.

 

[jmc]

Keep that policy in effect. You never know when or where something may happen. Even good friends can turn on you in a heartbeat when $$$ could be involved (even when just doing a favor or for free).

That's a grime thought about "friends" but even if they file a related claim on their own insurance, that insurer might sue you in turn.

 

[caver]

I spent quite a bit of time on the phone with USAA with a very patient guy. I only need to switch my truck policy over to them to qualify for an umbrella policy. I think overall they are also cheaper. I think I will be switching soon.

 

[RSKY]

My youngest is one of the managers in a large independent insurance agency. I asked her to look at our home and auto insurance policies. The result was that I changed everything over to a different company and added an umbrella policy. I pay one company every six months for homeowners, auto, and umbrella. I pay about the same as I was before for home and auto but now have the umbrella. She is not a selling agent but is in management and has quietly advised all family members to change to one company and that was Cincinnati Insurance. Said that this company was the best at taking care of their policy holders of all the companies that her group represents. It was interesting to hear her comments on the different companies and how they operated. Every company has a different 'trick' to make money.

 

[2LaneCruzer]

We had been with Allstate for over 40 years, when the pulled the same crap with me. I cancelled and went with an independent agent, which has saved me a lot of money. I get a sneaking suspicion that they deliberately alienate long term customers...I'm not sure of the reasoning...but that's the way it seemed to me.

 

[MossRoad]

Good luck. Insurance is one of those things we all hate but need.

 

[TheMan419]

Insurance is one of those things you should shop every couple years. Companies are always giving discounts to attract new customers but do not give the same discount to current policy holders.

 

[PILOON]

When I bought my CUT insurance became a consideration both for theft and liability.
My homeowner's clearly stated that I was covered as HP depicted eligibility like 4 ride on mowers and even for off property.
Later they removed any machine that had a FEL aa well as off property usage.
(back then I'd also drive over to do my daughter's snow, but no longer)
So now as it stands theft is all that I have left and for same premium.
OK as I now only use it on my place being retired and mostly for snow duties.

However I still won't change insurers as I did have excellent service on a few earlier incidents (and one fairly major) and that without premium changes.

Frustrating but I understand as I know insurers have taken major hits mostly in the snow removal sector. I know of at least 3 major snow contractors that have had to fold mainly due to premiums and wild claims.

So as it stands I consider myself to be self insured in many ways other than theft.
I do presume that my personal liability coverage is valid for whatever I might do as I see no exemptions under that coverage.

 

[MoKelly]

Insurance is one of those things you should shop every couple years. Companies are always giving discounts to attract new customers but do not give the same discount to current policy holders.

Sounds like cellular companies - phones, data, internet and TV.

MoKelly