Umbrella Policy to cover property in Louisiana and Pennsylvania

[Genevieve Anderson]

Hello, our personal home is in Louisiana and we own 

- a short term rental property in Pennsylvania (title is in personal name, not LLC)

- a long term rental property in Louisiana (title is in LLC)

I am looking for an umbrella policy for extra liability. Ideally, I would love something to cover all 3, however I understand that the property in the LLC might not be able to be included (we currently have extended liability on it).

Wondering if anyone knows of a company that would write an umbrella policy ($2M) for both the personal properties in LA and PA? My current agents in each state are not able to find a solution.

Thanks for your help!

[Amy Verges]

@Genevieve Anderson My background is in property & casualty insurance and I found the same thing--I couldn't find a company willing to write an umbrella over properties in both Louisiana & NC. Typically the company who writes your personal auto insurance will be willing to write a personal umbrella policy for you, which will go over your auto and any properties under your personal name. Unfortunately since your long term rental is titled under an LLC, it would not be covered under a personal umbrella policy. You can get a commercial umbrella policy, which I believe can cover personal properties as well (you would list both the LLC & yourself as named insureds), but that'll probably be more expensive than a personal umbrella policy. Then obviously you would need a separate umbrella over the PA property. Hope that helps.

Talk to a lawyer and your agent, but it may make more sense just to max out the coverage on your existing policies. Insurance after all is just about risk management which you can analyze to determine how much coverage you really need (i.e. do you have a lot of other assets/wealth someone could come after in a lawsuit? etc).