Umbrella Policy Issue

[Marc S.]

Afternoon BP, 

I fear that I know the answer to my issue but want to get the advice of someone who is an expert in the Insurance game. The exciting part is that I am a first-time investor and am in the process of closing on my first ever investment property. I am currently living in NY and am in the option period on a SFH in Texas that will be used as a rental property Investment, that's the good news.

From what I've learned and researched, it is "standard" and smart that I should have an umbrella policy to cover myself for any liability issues that come along with owing a property with renters, here lies the start of my problem. Currently I am living with my in-laws.  What I suddenly found out today after attempting to get an umbrella quote is that I cannot get an umbrella policy if I currently do not have homeowners or renters' insurance.  Something that may seem like I should have known but am learning about now. The reason I don't have either is that my wife and I are currently house hunting for our own home here in NY and in the meantime, we were fortunate enough that my in-laws are allowing us to stay with them till we do find a home. 

My issue now is that I cannot get a quote or a policy. If there is someone out there with the knowledge or can provide advice on how to or if there is even a way to work around this, I would appreciate any and all feedback.  

One of the ideas I did have was that currently my mother lives in NY as well and has an apartment that she has renters' insurance on. Would I be able to add myself to that policy which would then allow me to get the umbrella? 

Appreciate any help as I don't want this to derail my first RE investment purchase. 

Thank you! 
 

[Colleen F.]

@Marc S.  Get an umbrella policy quote from the person who wrote you landlord policy is the simpliest thing to do. Use an independent insurance agent to get a quote.