PEMCO Umbrella Insurance: Complete Guide & Review (2024)

PEMCO was founded in 1949 and sells a variety of insurance products to people in Oregon and Washington. From home insurance to auto coverage, PEMCO’s lineup of products can meet most of your needs.

If someone is injured on your property or you cause excessive property damage with your car or boat, the injured party might sue you. Liability coverage pays for damage and legal fees, but that coverage isn’t unlimited. Umbrella is a unique type of insurance that kicks in when your regular liability runs out. Ideally, you would never need it. However, umbrella insurance can save you hundreds of thousands of dollars if you do.

If you want to buy PEMCO umbrella insurance, your first step should be to compare prices with other companies to find the best price. Enter your ZIP code into our free tool if you want to see what quotes might look like for you.

What is PEMCO umbrella insurance?

Unlike standalone policies like PEMCO car insurance or renters protection, you add umbrella insurance to a plan you already have. For PEMCO, umbrella insurance rates can be added to home, auto, and boat insurance policies. Umbrella is a sort of insurance for your insurance. If you reach your liability limit but your financial obligations aren’t fulfilled, umbrella insurance takes over. PEMCO offers up to $5 million in umbrella coverage.

You must have an existing home and car insurance policy to be eligible for umbrella insurance. Other products like PEMCO renters insurance, condo coverage, or pet protection don’t apply.

Read more:

• PEMCO Insurance Review & Complaints: Earthquake Insurance
• PEMCO Insurance of Seattle Review & Complaints: Car & Homeowners Insurance
• PEMCO Insurance Review & Complaints: Auto, Boat, Umbrella & Home Insurance

How does PEMCO umbrella insurance work with homeowners insurance?

Homeowners insurance, such as the coverage PEMCO sells, protects you in the following ways:

• Liability. When someone is injured on your property and you’re deemed responsible, liability insurance will help pay for your legal fees if they sue you.
• Guest medical protection. This coverage helps pay for medical bills, ambulance rides, dental work, hospital stays, and diagnostic tests.
• Dwelling protection. This part of your plan protects the physical structure of your home and any detached structures.
• Personal belongings protection. This part of your insurance replaces your personal effects, including furniture, clothes, and electronics.

You can also purchase numerous add-ons for your homeowners insurance, which increases the value of your coverage (but also the cost).

Umbrella insurance adds to the liability portion of your policy. For example, a guest in your home trips on a broken tile and hurts themselves. A judge finds you responsible for their injury, and the guest sues you. If you have $50,000 in liability coverage, your insurance will pay for your legal fees up until they reach your limit. After $50,000, you’d be responsible for the rest of your legal costs. However, if you have an umbrella policy, your insurance will continue to pay your fees.

How does PEMCO umbrella insurance work with car insurance?

If you want an umbrella policy, you’ll need homeowners and auto insurance to be eligible. PEMCO’s car insurance offers the following coverage:

• Liability. Most states require minimum liability coverage, including Washington and Oregon. If you cause an accident, liability pays for property damage and injuries.
• Collision. This coverage will pay for your car repairs after an accident, no matter who is at fault. While this isn’t a legal requirement, collision is smart for people with newer or valuable cars.
• Comprehensive. Collision and comprehensive coverage make up full coverage for your car. Comprehensive covers damage done to your car from sources other than accidents, like animal contact, weather, vandalism, and theft.
• Underinsured/uninsured motorist. Just because drivers need insurance to drive legally doesn’t mean they all have it. This coverage protects you from drivers with inadequate insurance.
• Rental reimbursement. If your car is stuck in the shop for repairs after an accident, PEMCO will reimburse you for a rental car.
• Towing and labor. If you become stranded on the side of the road, this coverage will help get your car to a mechanic shop.
• Auto loan pay-off. If your car is totaled and you owe more on your car loan than it is worth, auto loan pay-off will pay it off.

PEMCO offers other add-ons you can purchase for your auto insurance policy, as well as a long list of discounts. Umbrella insurance starts after your car liability runs out, which means it will pay not only for legal fees but for damage as well.

How does PEMCO umbrella insurance work for boats?

Boat coverage is the only type of insurance you don’t need to have in order to be eligible for umbrella insurance. However, an umbrella policy offers valuable protection for boat owners.

PEMCO offers the following coverage for boat owners:

• Emergency service. This coverage will help get your boat to a repair shop if your boat breaks down.
• Damage to your boat. From damage to theft, your boat insurance will pay to get your boat back in perfect shape.
• Agreed value. Like cars, boats depreciate in value as time goes by. However, PEMCO will pay the total amount agreed upon in your policy if your watercraft is declared a total loss.
• Mechanical breakdown. You can get the mechanical parts of your boat fixed with the coverage as long as the damage is from everyday wear and tear.
• Liability. If you or a family member are responsible for causing damage to people or property, liability will help pay for it. It also covers legal fees if you need to go to court.

Umbrella insurance offers the same protection for boats as it does for cars. It will help pay for damage and legal fees after reaching your liability limit.

How much does PEMCO umbrella insurance cost?

The average price of umbrella insurance in America is between $150 and $300 a year. Since umbrella insurance can save you thousands of dollars in legal fees, it’s a pretty good deal. Unfortunately, PEMCO doesn’t offer online quotes for umbrella insurance. PEMCO states that an umbrella policy with a $1 million limit starts around $190 a year. (For more information, read our “How much does a million dollar life insurance policy cost?“).

If you’re interested in umbrella coverage, you can call the PEMCO insurance phone number and speak with an agent to get started on a quote.

PEMCO Insurance Reviews

The mostly-positive reviews should make you more confident if you’re interested in PEMCO’s umbrella insurance. PEMCO reviews are generally positive from both professional rating services and customers. PEMCO consistently scores high with professional rating companies. The Better Business Bureau ranks PEMCO with an A+. J.D. Power ranks PEMCO a 4.1 out of 5, and A.M. Best lists its financial strength as a B++ (Good).

The National Association of Insurance Commissioners (NAIC) rates insurance companies by the level of customer satisfaction. A 1.0 is considered an average number of customer complaints about a company. PEMCO scores a 0.88, so customers are clearly happy.

What do those happy customers say? Customers are generally positive about their experience with this company, saying the PEMCO insurance claims phone number is easy to use when they need to make a claim. They also enjoy the easy PEMCO insurance login online to manage their accounts.

Find the Best Umbrella Insurance Today

Umbrella insurance is a type of coverage that people don’t think they should buy until they need it and it’s too late. You can save yourself the headache and financial stress of the court system by purchasing umbrella insurance for your boat, home, or car policy.

It’s still valuable to compare rates from other companies, even if you’re sure you want to see affordable PEMCO umbrella insurance quotes. Enter your ZIP code into our free tool today when you’re ready.

Ease of Filing a Claim

PEMCO offers a seamless claims process that can be initiated through various convenient methods. Customers can file claims online through the company’s website, over the phone, or using their mobile apps. This flexibility ensures that policyholders can choose the method that suits them best, enhancing the ease and accessibility of filing a claim.

Average Claim Processing Time

PEMCO is committed to a prompt claims processing procedure. The average claim processing time is designed to be efficient and timely, ensuring that customers receive the necessary assistance and resolutions quickly. The company’s dedication to a streamlined claims process helps policyholders navigate the often challenging aftermath of an incident with minimal delays.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback regarding claim resolutions and payouts is a valuable aspect of PEMCO’s service. The company places great importance on addressing customer concerns and improving its claims process based on feedback.

Policyholders’ experiences and feedback contribute to the continuous improvement of the claims resolution process, helping PEMCO tailor their services to better meet their customers’ needs.

Mobile App Features and Functionality

PEMCO provides a user-friendly mobile app that enhances the insurance experience for its policyholders. The mobile app offers features such as claim filing, policy management, bill payments, and access to important documents.

The app’s intuitive interface and functionalities empower customers to manage their insurance needs conveniently on-the-go, ensuring a seamless and efficient digital experience.

Online Account Management Capabilities

Policyholders can manage their insurance policies and accounts effortlessly through PEMCO’s online platform. The online account management system enables users to access policy information, review coverage details, make updates, and track claims.

This digital capability grants policyholders a centralized platform to conveniently monitor and manage their insurance portfolio from the comfort of their homes or offices.

Digital Tools and Resources

PEMCO integrates a range of digital tools and resources to assist policyholders in understanding their coverage and making informed decisions. These tools may include insurance calculators, educational materials, FAQs, and risk assessment guides.

By providing these digital resources, PEMCO aims to empower its customers with the knowledge needed to navigate their insurance policies effectively and ensure they have appropriate coverage for their specific needs.