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Updated over 7 years ago on . Most recent reply
Umbrella policy and land lord policy
Should I have/need both a landlord insurance policy and an umbrella insurance policy for my single family rentals? Thoughts?
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Jason G.
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Jason G.
#5 Ask About A Real Estate Company Contributor
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- Long Island, NY
You would get insurance for the property itself and then you can obtain an umbrella policy for excess coverage depending on your assets. Where the umbrella policy is of more significance is to cover you in the event of an auto accident. Lets say you mow down a pedestrian causing significant bodily injury and a verdict comes back over your auto policy, guess whose investment properties are vulnerable? That is where the umbrella policy is truly valuable.