Insurance question

[Sunbeam lodge]

I have insurance policys on cars a home here and condo in florida and boats.
I have insurance in Fla on the cars and condo, the house in NH with Allstate and the boats with Boats US.
Is there any one company that could insure everything that would be fair and expedite claims quickly if ever needed>
I know that sounds like asking for a good lawyer referral but it would make the whole process easier.
Maybe an umbrella policy would be better but that would be just adding another ins policy

[ishoot308]

Hi S.L.;

I'm not an insurance expert but like you we also have three different insurance companies. Reason being some insurance companies simply do not insure boats or snowmobiles.

Currently our home, island camp, autos and motorcycle are with State Farm, boats are with Progressive and snowmobiles are with Allstate. We have an added 2 million umbrella on everything through State Farm. We are very happy with our selections above and have utilized them when needed with excellent results.

To answer your question, I'm not sure there is one "jack of all trades" insurance company for your home and toys or at least not one that would have reasonable rates for everything. In my opinion your best bet is to contact your current home insurer (Allstate) and see what they can cover or ask about an umbrella on everything.

Dan

[P-3 Guy]

USAA (if you are eligible)

[AC2717]

There are a couple of companies out there, one that comes to mind Nationwide, with that said, with properties in different states and different exposures it will be very hard to find one that encompasses everything you are looking for.

I am an insurance agent, and I still can't get it done with the carriers I have because they all have different guidelines and requirements.

Best thing to do:
Keep FL stuff with a carrier that writes in FL and then one that writes in NH for the NH stuff.
If possible you could find an umbrella to cover both, if not a umbrella for each state.

If you cannot get a carrier to do everything, the above is the best way to maximize available credits, and coverages. As some carriers might offer insurance in both states, but different credits could apply and there could be exclusions in one state but not in the other.

Optimally, the best would be to place FL stuff in a Trust, and NH in a trust to minimize the connections of assets in the event of a claim. Also that way there is clear separation for the insurance policies and for the lawsuit that might come along

[Newbiesaukee]

As pointed out above, USAA will do this if you qualify. I live in FL but am up here 5 months of the year.

[holeinthewall]

I insure my home, my island home, 2 cars, 2 boats, and have an umbrella policy all with Allstate. They have always taken good care of me, although I am probably paying a bit more than I need to.:eek:

[HellRaZoR004]

USAA actually does not have boat insurance, they use Progressive. I just went through this. I think they were also trying to get away from motorcycle also (but I think I am grandfathered in).

[Sunbeam lodge]

Hi S.L.;

I'm not an insurance expert but like you we also have three different insurance companies. Reason being some insurance companies simply do not insure boats or snowmobiles.

Currently our home, island camp, autos and motorcycle are with State Farm, boats are with Progressive and snowmobiles are with Allstate. We have an added 2 million umbrella on everything through State Farm. We are very happy with our selections above and have utilized them when needed with excellent results.

To answer your question, I'm not sure there is one "jack of all trades" insurance company for your home and toys or at least not one that would have reasonable rates for everything. In my opinion your best bet is to contact your current home insurer (Allstate) and see what they can cover or ask about an umbrella on everything.

Dan
Thanks for the information. I will see what Allstate can cover.
I have one more question,
What is an umbrella policy and what does it do over and above the coverage I have now?

[AC2717]

the Umbrella policy sits ontop of the policies that are underlying (primary policies - i.e personal liability, boat liability, personal auto liability) the umbrella. It adds an extra layer of insurance protection against lawsuits and insurance claims made against you

It does not add coverage to any type of property limits, it is a liability extension only, if you will.
for example:
you have a $500,000 personal liability with a $1,000,000 umbrella. someone trips and falls on your property or gets hurt in someway. You would have a total of $1,500,000 in coverage to protect you.
only caviat to the umbrella, where as in the personal liability you have $500,000 of coverage for every liability incident that happens during the policy term (it replenishes itself after every claim during the policy year) the umbrella does not do as such

[MAXUM]

I have all my stuff insured through State Farm. House, new island camp, motor vehicles, boat and snow machines, plus I carry an umbrella policy and term life insurance. Yeah my insurance company likes me, but then again carrying everything with one company does give you access to well in my case volume discounts.

Couple things to consider. Read your umbrella policy well, many of those require minimum levels of coverage for your first line of defense. Also in my case failure to cover insurable items can void the umbrella policy too. For example if I didn't have liability on my snow machine and got into an accident on one, my umbrella policy would not cover me.

Secondly, USAA was mentioned, even though I qualify as a vet, I looked into them and much of the insurance they sell is underwritten by others, so when it comes to claim time it's not USAA that is going to pay out, as they are just insurance brokers. A complication I didn't want to deal with.

I'm no insurance guru I'm sure there are some folks much more knowledgeable on this subject than I am. What I will say is that I've been with state farm now for 20+ years and the few times I've needed to use my insurance they have been great to work with. Whether or not they are the cheapest out there I can't comment on, but like anything sometimes you get what you pay for too.

**One disclaimer here, I'd need to check but State Farm may not underwrite my term life insurance, but in the grand scheme of things what do I care at that point, think I'll be dead ;) **

[tis]

State Farm will not do houses in Fl. and I believe Sunbeam wants his house in Fl covered. The Concord Group will cover quite a bit I found when I tried to get everything under one policy, but they were a lot higher. I do have some stuff with them. I have about 10 different companies, but as I said in another thread, I at least have it now so that all my stuff comes due in either June or Nov. so that I am not getting bills all year long. I do like Progressive and Haggerty is good for antique boats. I have tried Geico several times and everytime they are a lot more.

[Broadsider]

Chubb and Fireman's Fund will cover everything and both are very good

[P-3 Guy]

Secondly, USAA was mentioned, even though I qualify as a vet, I looked into them and much of the insurance they sell is underwritten by others, so when it comes to claim time it's not USAA that is going to pay out, as they are just insurance brokers. A complication I didn't want to deal with.

USAA may act as a broker on certain types of coverage (boats were mentioned above), but I can tell you for a fact that this is not the case for auto, homeowners, renters, valuable personal property, umbrella or life policies, which covers the vast majority of their insurance business. So it's not accurate to say that "much of the insurance they sell is underwritten by others."

For all the stuff the OP was asking about, USAA can provide coverage, either directly or through an affiliation with Progressive (boats). Their policy and claims service is excellent, and I have found their premiums to be extremely competitive.