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Updated over 6 years ago on . Most recent reply

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146
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Stephan K.
  • Rental Property Investor
  • Clearwater, FL
40
Votes |
146
Posts

umbrella policy

Stephan K.
  • Rental Property Investor
  • Clearwater, FL
Posted

Hi,

To cover additional personal liability, I am looking for an umbrella policy. All our properties are with Citizen, all are in Florida.

I would love to have an extra $1,000,000.

Any recommendations?

Thanks

Stephan

Most Popular Reply

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2,493
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1,429
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Jason Bott
#2 Insurance Contributor
  • Insurance Agent
  • Nationwide
1,429
Votes |
2,493
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Jason Bott
#2 Insurance Contributor
  • Insurance Agent
  • Nationwide
Replied

@Peter J. the type of Umbrella you can get will be determined by the type of policy you have covering the rental. 

If you have a policy with Personal forms, you can only get a Personal Umbrella.

If you have a policy with Commercial form, you can only get a Commercial Umbrella.

The confusing part to all of this is that you can have a Personal form policy be written for an LLC, then leads people to believe it makes it a commercial policy.

As far as coverage between the 2, there is little to no difference besides being able to cover your personal Home and Auto under a Personal Umbrella.

  • Jason Bott
  • Loading replies...