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Updated over 1 year ago,
Umbrella Insurance Structure
As the title says I need help understanding umbrella insurance for my case. I have two properties 1st under my revocable family Trust and second which was my previous primary residence (Under Trust) now moved under an LLC for rental. The LLC is part of my family trust; I want to purchase umbrella insurance for 1M. But would like to know:
1. If it will cover my LLC and Trust?
2. Do I need to purchase separate insurance policies for both (Trust & LLC)
3. Help me understand how umbrella insurance work in such scenarios if I keep adding LLCs for future rental properties?
Thanks in advance for looking into my queries.