Geico Umbrella Insurance - not really suitable for investors ?

[Elad Messing]

Hello BP community, 

Is Geico umbrella insurance of any use to investors? 

I have some rental properties and following the advice to purchase umbrella liability insurance. Our home insurances were done through Geico (as I am sure many of you do) however when I look at their personal umbrella liability insurance policy I can see that (among the 41 exclusion items :) ), some exclusions are quite concerning and actually might not cover us under some of the more common causes of liability lawsuits/loses that we could imagine happening while we rent our rental properties.

I wonder if these exclusions typical for umbrella insurance policies OR its just Geico that is not fitting for investors ? Maybe some of you have other policies which are more comprehensive?

Here are the exclusion I am referring to:

1. No coverage for damages from "Business pursuits or business property of an insured" 
Is 'renting' meeting the definition of business pursuits?)

2. No coverage for "Liability assumed by contract or agreement"
This is very broad.. we have a contract/agreement with our property manager and with our tenant..

3. The only damages they cover are damages resulting from personal injury or property damage. So if a tenant is going after me with a lawsuit for all kind of complains that are not injury or damages, this policy will not apply.

4. They will cover only up to 4 rentals

Thanks for sharing from your experience

Elad