Hello, I've got 3 rentals, 1 personal home - and of course, 2 cars. These assets are spread out between 3 states. I have $500k personal liability on the rentals and $1mm on personal house.
I'm looking at an umbrella for $3 million - - thus far I've been presented "Markel" . I really don't know how good a company they are vis a vis paying claims, staying in business etc. Cursory online search shows less than stellar reviews.
Anyone know a reputable company that can do an umbrella for properties that in in various states....that is a reputable insurer, or is Markel ok? Thanks
I did recently learn that our umbrella policy, sitting on top of our homeowners policy, does not cover our rentals because those are insured by a different company. I might up the liability on those, but check to make sure you're actually covered.
I second @Dan Travieso! You should always be working with an insurance broker to shop the market for you. I am not familiar with Markel either but I will say that usually the most unhappy clients are the ones that write reviews online. Because when an insurance company pays claims, nobody writes an amazing review because it is "expected". Talk to insurance brokers, they know the ins and outs and are impartial/unbiased.
Thanks everyone, keep it coming. Yes. I'm using the broker I use for my personal home, and cars. For my home stuff - he's been 100% super accessible even after hours - - I wanted to give the business to him. The Markel proposal comes from him.
I second @Dan Travieso! You should always be working with an insurance broker to shop the market for you. I am not familiar with Markel either but I will say that usually the most unhappy clients are the ones that write reviews online. Because when an insurance company pays claims, nobody writes an amazing review because it is "expected". Talk to insurance brokers, they know the ins and outs and are impartial/unbiased.
Remember, you run a business so you don't owe the broker you use for your personal life anything. Speak with another insurance broker and see what they come back with. If they can't find anything different than you can always go back to your personal insurance broker. Shop around.