Winnipesaukee Forum - View Single Post - Additional cost on umbrella policy for a boat? How much is reasonable?

TiltonBB · 09-23-2015, 06:07 AM

All of my individual policies for the vehicles, boat, jet skis, and real estate have a liability limit of $500,000. The $1 million umbrella takes over after that so in effect the coverage is $1.5 million total. The umbrella premium is $645 which seems fair to me. My boat has 375 horsepower.

I would list what property you have and email it to 5 agents and ask for proposals without letting them know what you are paying now.

On another note: Changing insurance companies is easier than changing accountants. When I have gone to a new accountant because I felt I was over paying they ask for 2 years of tax returns and depreciation schedules so they see what you have been paying previous accountants and charge you the same rate, or more. It took 3 changes but I have now found an excellent accountant that charges less than 1/3 of what I was paying for the previous 10 years.

It pays to shop around with most services. Sorry for the minor hijack!

09-23-2015, 06:07 AM	#14
TiltonBB Senior Member Join Date: Feb 2005 Location: Gilford, NH and Florida Posts: 2,985 Thanks: 692 Thanked 2,193 Times in 929 Posts	Some are different All of my individual policies for the vehicles, boat, jet skis, and real estate have a liability limit of $500,000. The $1 million umbrella takes over after that so in effect the coverage is $1.5 million total. The umbrella premium is $645 which seems fair to me. My boat has 375 horsepower. I would list what property you have and email it to 5 agents and ask for proposals without letting them know what you are paying now. On another note: Changing insurance companies is easier than changing accountants. When I have gone to a new accountant because I felt I was over paying they ask for 2 years of tax returns and depreciation schedules so they see what you have been paying previous accountants and charge you the same rate, or more. It took 3 changes but I have now found an excellent accountant that charges less than 1/3 of what I was paying for the previous 10 years. It pays to shop around with most services. Sorry for the minor hijack!