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Shopping for an Umbrella Policy with Underinsured/Uninsured Coverage

As previously discussed on my website, you need strong underinsured/uninsured motorist coverage that mirrors your auto liability coverage limits.

If you are hit on a bicycle, make sure your auto liability limits match your underinsured/uninsured (UM/UIM) coverage limits. Don't reduce or "step down" your underinsured/uninsured coverage limits in an attempt to lower your policy premium just to save a few bucks. The savings are not big enough, and the potential expense can be devastating. For an insurance company to drop your underinsured/uninsured motorist's coverage effectively, they must obtain written permission from you. See Insurance Code Section 11580.2(a)(2).

For example, if you have a $500,000 liability policy, don't reduce your underinsured/uninsured motorist coverage to save a few dollars of premium.

Many bicyclists have expressed thanks for the above advice, but want to know where to find a back up umbrella policy with the underinsured/uninsured rider if the "bad guy" who hit you failed to have any insurance coverage, or had inadequate limits of coverage. In these economic times, this is all too common. I've briefly surveyed several brokers and companies for you and detail them below.* (If you find a better company, let me know!)

*Certain limitations may apply which may differ from company to company, but check with an experienced insurance broker and compare their advice and products. The information I've included in this article is only a start, and I do not warrant or guarantee their products or services. Buyer Beware.

BROKER

LIMITS OF UMBRELLA COVERAGE

Rathbone, King, & Seely/Burns & Wilcox Insurance Services/USAA

San Francisco, CA

(800) 531-8444

Bodily Injury Limits: $2,000,000

UIM/UM Limits: $1,000,000

(Underlying Liability

coverage: ) $300,000/$500,000

Total Cost: $ 1,130.00/year

John Tesoriero

www.insurancebyjohn.com

Travelers Insurance Company

Bodily Injury Limits: $1,000,000/umbrella

UIM/UM Limits: $1,000,000/umbrella

Extra Cost: $ 440.00/year

Brooke Roby

Barney and Barney Insurance Services

(858) 587-7548

Scottsdale Indemnity (800) 423-7675

Brooke.roby@barneyandbarney.com

Bodily Injury Limits: $1,000,000/umbrella

UIM/UM Limits: $1,000,000/umbrella

Cost: $ 233.00/year

American Alternative

Cost: $ 420.00/year

Anderson & Murison, Inc.

Insurance Wholesalers

Los Angeles, CA

(323) 255-2333

www.andersonmurison.com

Call their personal Umbrella department for a variety of options including Scottsdale and Hudson below

Scottsdale Insurance

$1,000,000/umbrella $ 208.00/year

$2,000,000/umbrella $ 375.00/year

Hudson Insurance

$1,000,000/umbrella $ 210.00/year

$2,000,000/umbrella $ 380.00/year

If you're injured, hire an experienced trial attorney.

Ride safe, Ride strong!
Richard Duquette
Bicycle Injury Trial Attorney Since 1983

The Law Firm of Richard L. Duquette
Telephone: (760) 545-5563