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Updated over 7 years ago, 08/25/2017

User Stats

278
Posts
104
Votes
Atul Mohlajee
  • Oak Park, IL
104
Votes |
278
Posts

Any need for extra umbrella insurance if I own a few properties?

Atul Mohlajee
  • Oak Park, IL
Posted

Is there a need for extra umbrella insurance (extra 1 million or extra 2 million ), over and above regular individual insurance of $1 million on each individual property I own. I own 11 properties with biggest one being a 6-flat bought for $567000 this June. Others are 2, 3 flats, SFH's, condos, townhomes etc. Insurance company has been trying to oversell and just wanted to know others views on this. If I am sued on all 11 properties, individual coverage of 1 million each will be separately available and applied to each property.

Thanks.

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