# how much (Umbrella coverage) Insurance do you Have ?



## andre6410 (Nov 22, 2012)

I had a customer want me to bump mine up from 1 million to 5 million.


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## fireball (Jan 9, 2000)

seems like a reasonable request. Someone broke the 750,000 apple logo at the apple store in NYC. According to the news media, damage was caused with a snow blower. I can hear it now, Ah boss, I broke a window with the snow blower, we might be running a little late


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## Boomer123 (Dec 18, 2011)

My normal insurance policy is for 2 mil and then I have an umbrella for another 1 mil.


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## Ben/Insurance (Oct 22, 2012)

It usually depends on a couple of factors. One, if your company has significant assets (property, cash, equipment, etc) you need a good umbrella policy. $ 1mill is the lowest coverage limit and I've seen $100 million umbrella policies also. Two, if your customer, GC, municipality, or similar requires a certain umbrella coverage limit. As an example, it is not uncommon for many of our clients to be required to maintain $5 mill umbrella coverage frorm a GC that subs out a lot of work to them. The same thing goes for building owners in NYC. Many building owners require even $10 mill umbrellas of our contracting clients. I hope that helps.
Ben/Insurance


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## SnoFarmer (Oct 15, 2004)

For the avg small/med snow operation a 2mill umbrella is more than enough.

Umbrella insurance provides reassurance and protection against lawsuits and claims that exceed the limits of your other insurance policies.

1mill liability (snowplowing)


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## Herm Witte (Jan 27, 2009)

3 million excess


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## Mr.Markus (Jan 7, 2010)

I have $2m GL with a $3m umbrella, it allows me to bid contracts with a $5m requirement. Todays court rulings and insurance settlements are crazy. 1 accident can wipe out your company.


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## JimMarshall (Jan 25, 2013)

We have 1M CGL and 4M Umbrella


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## SnoFarmer (Oct 15, 2004)

"1 accident can wipe out your company. "

The AVG slip and fall is settled for around 30k.
No where close to a million.
Total out someones car 20-40k with out injures.


The only time a million is going to come into play is if you are negligent and kill someone.
or for nonfeasance .

The business does a mill in business a day and they couldn't do business because you didn't plow.


This requiring 5mill for the avg snow plowers is over the top.


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## OldSchoolPSD (Oct 16, 2007)

I carry 5 million. Most government contacts require that much, so I carry it year round anyways.


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## Mr.Markus (Jan 7, 2010)

SnoFarmer;1735293 said:


> "1 accident can wipe out your company. "
> 
> The AVG slip and fall is settled for around 30k.
> No where close to a million.
> ...


Acccidents happen..I know of an instance that occurrd on a beautiful sunny day involving a truck and train. The truck didn't see the train and hit it enough to derail it, last I heard the claim was up to 12m from the railroad... to increase from 1m to 2 mil was maybe $200 on my policy. The additional umbrella was worth it as well. It exceeds my assets. 
.......and the value of my dogs.Thumbs Up


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