If you haven't already heard, the RLI Personal Umbrella policy has made some major eligibility and underwriting changes for new and renewal business:
Drivers under the age of 20 will be eligible with one incident, violation or at-fault accident. Previously, drivers age 20-21 were eligible with one incident, while those under the age of 20 were ineligible. As a result, the yes or no question pertaining to a driver under the age of 20 with an incident has been removed.
Drivers under the age of 22 will be eligible with basic underlying automobile limit B (250/500/50 or 300/300/50 or 300 CSL). Previously, drivers under the age of 22 required a basic underlying automobile limit of A (500/500/50 or 500 CSL). Note: The basic underlying auto limit A will continue to give a discount.
Up to $5-million limits will be available for certain PUP special risks. If a risk is in PUP Special due to the number of autos and or properties, and no other responses make the risk PUP Special, up to $5-million limits will be available. Previously, any response that made the risk PUP Special was limited to $1 million.
Up to nine residential properties rented to others that are not occupied in whole or in part at any time will be eligible. Previously, ownership of six or more of these properties was ineligible. As a result, the yes or no question pertaining to six or more rental properties has been removed.
Simplification of the farm/timberland question. Previously, RLI asked how many acres of timberland and/or land are farmed. RLI removed that distinction and instead asks for how many acres of land are owned or leased.
Simplification of the target political figure question. In most states, appointed or elected political figures lower than the state level in a political subdivision with a population above 100,000 were previously ineligible. That distinction has been removed.
Increase in prior liability loss amount for eligibility. Previously, the prior liability loss amount for eligibility was $25,000. Along with rewording the question to include open liability claims or lawsuits, the prior liability loss amount has been increased to $50,000.
Learn more about the Big “I" Personal Umbrella online.