Cant get umbrella policy
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Cant get umbrella policy (by Jen [OH]) Jan 1, 2019 10:01 PM
       Cant get umbrella policy (by J [FL]) Jan 1, 2019 11:15 PM
       Cant get umbrella policy (by John... [MI]) Jan 2, 2019 5:26 AM
       Cant get umbrella policy (by myob [GA]) Jan 2, 2019 5:52 AM
       Cant get umbrella policy (by Hoosier [IN]) Jan 2, 2019 2:47 PM
       Cant get umbrella policy (by Jen [OH]) Jan 2, 2019 7:54 PM
       Cant get umbrella policy (by Ray-N-Pa [PA]) Jan 2, 2019 7:57 PM
       Cant get umbrella policy (by J [FL]) Jan 3, 2019 6:43 AM
       Cant get umbrella policy (by Jen [OH]) Jan 3, 2019 6:46 AM
       Cant get umbrella policy (by Jen [OH]) Jan 3, 2019 6:46 AM
       Cant get umbrella policy (by J [FL]) Jan 3, 2019 7:03 AM
       Cant get umbrella policy (by Jen [OH]) Jan 3, 2019 7:09 AM
       Cant get umbrella policy (by J [FL]) Jan 3, 2019 7:14 AM
       Cant get umbrella policy (by John... [MI]) Jan 3, 2019 7:24 AM
       Cant get umbrella policy (by J [FL]) Jan 3, 2019 7:33 AM
       Cant get umbrella policy (by Jen [OH]) Jan 3, 2019 7:56 AM
       Cant get umbrella policy (by J [FL]) Jan 3, 2019 3:02 PM
       Cant get umbrella policy (by Ray-N-Pa [PA]) Jan 3, 2019 3:40 PM
       Cant get umbrella policy (by John... [MI]) Jan 4, 2019 5:51 AM
       Cant get umbrella policy (by J [FL]) Jan 4, 2019 6:30 AM
       Cant get umbrella policy (by J [FL]) Jan 4, 2019 6:47 AM
       Cant get umbrella policy (by Jen [OH]) Jan 4, 2019 6:55 AM
       Cant get umbrella policy (by Cjo’h [CT]) Jan 6, 2019 11:13 PM
       Cant get umbrella policy (by Jen [OH]) Jan 7, 2019 3:12 AM

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Cant get umbrella policy (by Jen [OH]) Posted on: Jan 1, 2019 10:01 PM
Message:

Was told too many speeding tickets.

5 in 3 years. Has anyone found a company to insure? --74.141.xx.xx




Cant get umbrella policy (by J [FL]) Posted on: Jan 1, 2019 11:15 PM
Message:

RLI might do it. --72.188.xxx.xxx




Cant get umbrella policy (by John... [MI]) Posted on: Jan 2, 2019 5:26 AM
Message:

You also might ask if someone will give you an Umbrella policy with an exclusion for auto accidents.

- John...

--24.180.xxx.xxx




Cant get umbrella policy (by myob [GA]) Posted on: Jan 2, 2019 5:52 AM
Message:

Jen are you trying to get an umbrella for your rentals?

With rentals (SFH's) we had to increase our policy to 500K each. Then placed an umbrella on top of that. --99.103.xxx.xxx




Cant get umbrella policy (by Hoosier [IN]) Posted on: Jan 2, 2019 2:47 PM
Message:

Yes I have $2M through State Farm. --99.92.xxx.xxx




Cant get umbrella policy (by Jen [OH]) Posted on: Jan 2, 2019 7:54 PM
Message:

Rentals are covered. Just would feel better for unexpected or possible denial of coverage if something happened --74.141.xx.xx




Cant get umbrella policy (by Ray-N-Pa [PA]) Posted on: Jan 2, 2019 7:57 PM
Message:

Stats show, the most probable way a LL is going to get sued is when driving.

Do you the problem? If you can find one - you will be paying a hefty price for it. US Liability Insurance Co might cover you. They are out of California --72.23.xxx.xx




Cant get umbrella policy (by J [FL]) Posted on: Jan 3, 2019 6:43 AM
Message:

I think Ray makes a very good point.

I just rented a 16 foot moving truck to transport some materials to my personal home. I found out that my auto insurance would not cover liability for the truck if there was an accident, so I shelled out $24 for Penske's liability coverage, even though I considered just taking a chance and going without since I was only using the truck for half a day.

There was no accident and it could seem like a waste of money but I thought it was best when driving a large vehicle I wasn't used to driving. Someone could take everything I have if I was at fault in a serious accident. It's best not to skimp on the little things even if it seems like a waste of money sometimes. --72.188.xxx.xxx




Cant get umbrella policy (by Jen [OH]) Posted on: Jan 3, 2019 6:46 AM
Message:

Agreed

We need to do things differently then we did when starting.

Thank you to all --74.141.xx.xx




Cant get umbrella policy (by Jen [OH]) Posted on: Jan 3, 2019 6:46 AM
Message:

Agreed

We need to do things differently then we did when starting.

Thank you to all --74.141.xx.xx




Cant get umbrella policy (by J [FL]) Posted on: Jan 3, 2019 7:03 AM
Message:

Jenn what is the lookback period they are using for traffic violations? Some of your speeding tickets might fall off their radar soon and you might be eligible again for the policy. In Florida they look back 5 years. --72.188.xxx.xxx




Cant get umbrella policy (by Jen [OH]) Posted on: Jan 3, 2019 7:09 AM
Message:

I talked to several that were five years. One was three years so I do have a chance with the specific carrier in a couple months through progressive. --74.141.xx.xx




Cant get umbrella policy (by J [FL]) Posted on: Jan 3, 2019 7:14 AM
Message:

That might be the best option then, just to wait a couple months if you think you can get it through them.

RLI is not cheap and they may make you increase the bodily injury part of your auto to 250K limit to give you the umbrella because of the traffic incidents. So your auto premium would be more expensive as well. --72.188.xxx.xxx




Cant get umbrella policy (by John... [MI]) Posted on: Jan 3, 2019 7:24 AM
Message:

Ray-N-Pa: What stats show that exactly? You have a source or is that just off the top of your head?

A quick search shows that the top 6 things a LL is likely to get sued for are:

1. Security Deposit Violations

2. Discrimination

3. Lead Poisoning

4. Abandoned Property

5. Unsafe Conditions

6. Pest infestation

That was from a Rental Property Owners Association. I also found this one from an attorney group:

1. Security deposit violations

2. Having illegal clauses in the lease

3. Entering a tenant’s unit illegally

4. Renting an uninhabitable unit

I found very little indication that a landlord is likely to get sued while driving (for anything LL specific). The average person might be most likely to be sued while driving, but the insurance involved there would be your normal car insurance in 99% of the cases -- not any umbrella policy. Plus, most umbrella policies require you to up your car insurance to the same amount so that they are specifically NOT involved.

- John...

--24.180.xxx.xxx




Cant get umbrella policy (by J [FL]) Posted on: Jan 3, 2019 7:33 AM
Message:

John I don't know the stats, but I took Ray's post as meaning it's easy to get blindsided by things you aren't paying attention to. Everyone spends a lot of time worrying about getting sued by a tenant for injury, but things you do in your own personal life can come back to bite you as well. --72.188.xxx.xxx




Cant get umbrella policy (by Jen [OH]) Posted on: Jan 3, 2019 7:56 AM
Message:

I actually took rays comment as fact as I’ve already heard from an attorney who handled Asset protection that a car accident can take away everything.

I think there’s a lot of different layers to asset protection and when it comes to specific things and the landlord role That is different than things and overall life that can result in risks to assets --74.141.xx.xx




Cant get umbrella policy (by J [FL]) Posted on: Jan 3, 2019 3:02 PM
Message:

A car accident has more potential for multiple injuries and deaths. In a rental that would take something very dramatic like a fire or explosion. --72.188.xxx.xxx




Cant get umbrella policy (by Ray-N-Pa [PA]) Posted on: Jan 3, 2019 3:40 PM
Message:

The average driver is involved in 3 to 4 accidents over a life time. Your probability of being involved in an automobile accident doubles with each 5 miles per hour over the speed limit.

If someone has had multiple speeding tickets you have to ask yourself, how fast were they going, and how often do the odds the odds double on having an accident.

Compare that to the number of times you are sued as a landlord. In my 29 years, I have been sued only once.

Where I don't doubt at all the methods you listed on getting sued are valid, does your state require you carry an umbrella policy to landlord? Does your state require you to carry liability insurance to drive?

Liability insurance on a standard fire policy is a wise add on surcharge.

As J mentioned you also have to factor in the severity of the mishap into the equation. Any mishap is bad news, but some are much worse than others.

I am not an actuary, but having multiple speeding tickets by anyone isn't helping them out. Again hopefully USLI Co can help you out. --72.23.xxx.xx




Cant get umbrella policy (by John... [MI]) Posted on: Jan 4, 2019 5:51 AM
Message:

I think some of you are missing my point. In THIS situation, we have a person that can't get an umbrella policy to cover the much-more-likely things to get sued over as a landlord (as listed above by REAL stats) because of car tickets.

Therefore, my advice FOR THAT PERSON ONLY, as to consider getting an umbrella policy with an auto-accident exception. They would still need to pay for (probably expensive, due to multiple tickets) a normal high-dollar car insurance policy to protect themselves. (Again, normally umbrella insurance requires that your auto policy liability be just as high as the umbrella anyhow!)

This wasn't about how likely anything is to happen. It is about the fact that she cannot currently get an umbrella policy at all because of car tickets!

If her option is NO POLICY AT ALL or one with an auto exception, then I still stand by my advice to at least CONSIDER one with the exception. So that the vast majority of things that she is much more likely to be sued over as a landlord (again, based on real stats) would still be covered.

Several of you are talking like I suggested not having auto insurance at all. That isn't at all what I said nor even implied.

- John...

--24.180.xxx.xxx




Cant get umbrella policy (by J [FL]) Posted on: Jan 4, 2019 6:30 AM
Message:

"They would still need to pay for (probably expensive, due to multiple tickets) a normal high-dollar car insurance policy to protect themselves. (Again, normally umbrella insurance requires that your auto policy liability be just as high as the umbrella anyhow!)"

The auto insurance carrier will surcharge the driver for the speeding tickets, but then a company like RLI that does umbrellas for "high risk" individuals will likely also make the driver increase the bodily injury limits way up so that will jack up the auto insurance even more.

I've been through what Jen is going through except mine wasn't speeding tickets, it was something different.

--72.188.xxx.xxx




Cant get umbrella policy (by J [FL]) Posted on: Jan 4, 2019 6:47 AM
Message:

It looks like I was wrong about the bodily injury limits for simple moving violations. Here's what RLI has on their website for traffic tickets:

"Under age 22 / 80+ – 1

All others – 3

Max of 6 per household"

It doesn't say anything about increasing limits.

Jen didn't mention if it was only one person in her household who has all these tickets. If the tickets are spread among different different people this might work for her.

--72.188.xxx.xxx




Cant get umbrella policy (by Jen [OH]) Posted on: Jan 4, 2019 6:55 AM
Message:

1 person --74.141.xx.xx




Cant get umbrella policy (by Cjo’h [CT]) Posted on: Jan 6, 2019 11:13 PM
Message:

Jen, why so many speeding tickets, why the hell are you in such a hurry.............. Charlie.................,,,,,, ,,,,,,,,,,,,, ............. --32.214.xxx.xx




Cant get umbrella policy (by Jen [OH]) Posted on: Jan 7, 2019 3:12 AM
Message:

Too much travel --74.141.xx.xx



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