Q: Insurance recommendation

mshac · #1 11-09-20, 08:05 PM

Back off on that 1MM liability figure. That's whats driving the rate up. Ask for a hull-only quote, no liability, and see a P&C insurance broker about an umbrella policy. Ask me how I know this works.

phlgsse · #2 11-09-20, 08:06 PM

Quote:

Originally Posted by mshac

Back off on that 1MM liability figure. That's whats driving the rate up. Ask for a hull-only quote, no liability, and see a P&C insurance broker about an umbrella policy. Ask me how I know this works.

I already have an umbrella, but it carries an aviation exclusion.

I'll see what I can do, thanks for the idea.

mshac · #3 11-09-20, 08:08 PM

Ask what they would charge to remove the exclusion. In the insurance world, everything has a price.

JimC · #4 11-09-20, 08:11 PM

Quote:

Originally Posted by mshac

Ask what they would charge to remove the exclusion. In the insurance world, everything has a price.

I got a "not for any price" from State Farm.

mshac · #5 11-09-20, 08:12 PM

Quote:

Originally Posted by JimC

I got a "not for any price" from State Farm.

Then find the carrier that does offer you a price. State Farm is far from the only fish in the sea. Often its the smaller companies that will write policies like this. You wouldn't recognize the company that writes mine.