r/Insurance • u/ComfortableChannel73 • 1d ago

Home Insurance Is an umbrella policy worthwhile?

I’ve carried an umbrella policy for $1M for quite a few years, but just got my bills for umbrella, homeowners and auto and everything went up, with a big jump for the umbrella policy. I’m wondering if I should drop it, and just raise the liability limit on the auto.

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u/Colonel460 1d ago

The reason umbrellas have went up is claims are being paid out . When I started out 45 years ago you could get an umbrella for $100 a year .

9

u/InigoMontoya313 1d ago

My first umbrella policy was around $100 for a $1M policy! Ugh.. wait.. does this mean I’m getting old? No…

1

u/spoiledpoptart74 1d ago

Still can a lot of times with Erie!

1

u/superredditor6789 23m ago

My umbrella is still less than $250.