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Updated over 7 years ago,
Liability insurance question for a rental
I have my first buy and hold rental in contract and am really excited about it. I got an insurance quote from the same agent that does our primary home and our cars. The quote includes the insurance for the structure, but she is telling me that I will have $300,000 in liability insurance extended from the policy on my primary residence.
Is it normal to have your liability insurance for a rental property extend from your primary insurance policy? What happens when I have multiple rentals? Lastly, is $300,000 enough?
I want to make sure I am covered should the worst case scenario happen and I were to get sued for something. Any help and advice would be appreciated!
- Matt Pastier
The Kazarian Team - Fathom Realty