I'm considering moving to a bigger city where I plan to sell my car and use public transit as my main source of transportation. I have 1 house in Michigan with an umbrella policy over my rental property and my car. I don't believe my current State Farm umbrella insurance will cover me anymore without an auto policy. Are there any umbrella insurance policies that don't require an auto policy at all?
Hi @Chris H! As far as I know the umbrella policy is NOT a stand alone policy it has to piggy back off the umbrella (thats why you have to have certain limits on your auto policy in order to have an umbrella policy. I am speaking from my personal insurance experience as a Farmers agent... I do hope this helps and you can find what you need.
Very common question I am seeing here @Chris H.
I am independent Broker and all the companies I network with require to be tied to the Auto policy. You may be able to search something out. I did some hunting and did not really find much. Google search "Standalone Umbrella policy" and you may find some resources. Most likely going to be a little more expensive, but since you don't own vehicles, you are in a bit of a unique situation.
Another option may be to find Commercial insurance broker and ask them if they have anything along the lines of Liability insurance that could cover your needs there.
Hope that helps. Please share back if you find something as this seems to be coming up lately. Stand alone Umbrellas. (As indicator, most policies are average $200-$300 range for Umbrella tied to Auto policy. Just for reference when you are searching out there.)
Standalone umbrellas are easy on both personal and commercial lines. It takes a lot of information (need copies of all underlying policies), but they are common and not very expensive. You can always contact me for a personal consultation, but almost any independent insurance broker should be able to help.
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