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Updated about 6 years ago on . Most recent reply

Sunjeeve Weerasinghe's profile image
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Sunjeeve Weerasinghe
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General Landlording & Rental Properties

Umbrella Insurance for Liability Protection

Sunjeeve Weerasinghe
Posted

New to investing - currently working on 1 rental property.   Do you recommend Umbrella Insurance as an effective form of Liability Protection?  If so is there a calculation as to how much I should carry?  

Thank you for your Time.  

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John Underwood
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  • Greer, SC
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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
Replied

There are muliptle layers of asset protection.

Mortgage

Insurance on house

Umbrella Insurance

LLC

Land Trusts

Etc

For your first rental you may not need as many layers especially if it already has a mortgage and landlord insurance.

Once you start building your empire you can implement more layers of protection.

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