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Updated almost 3 years ago on . Most recent reply

User Stats

82
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48
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Chad S.
  • Rochester, MI
48
Votes |
82
Posts

Umbrella insurance on multiple properties.

Chad S.
  • Rochester, MI
Posted

Any recommendations for a new insurance agency for my situation would be appreciated.

I have four rental property's, and my personal home listed on my umbrella policy, but I recently purchased another property and the insurance company I'm with (allstate) won't allow me to add it to the umbrella policy as they can only allow four investment properties, I'm told.

I have all my auto's and property insured through Allstate and they have been good to me, but I'm going to have to find another agency that will put my 5th investment property and future property's under an umbrella, or get a second umbrella. None of my property's are in LLC's at this time.

Most Popular Reply

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7,642
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9,520
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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
9,520
Votes |
7,642
Posts
Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied

Chad: my allstate agent wrote a business case letter to allstate about why they should cover more than 4 rentals I own. They currently insure 10 rentals and my primary. My MN rental is with State Farm. They are all covered by an umbrella through my allstate insurance through USLI. 

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