Umbrella Policy Questions

[Pradhap Nirmal Natarajan]

I have 5 rentals in Ohio and I am shopping for umbrella coverage. What are the key things that I should look for? Do I need a business policy or does a personal policy cover my rentals as well? One of the insurance agents from NREIG told me that I need a business policy. Is that true? A lot of posts on the forums here indicate that a personal policy will cover rentals as well. So I am confused. Any inputs on this will be helpful.

[Jason Bott]

@Pradhap Nirmal Natarajan @Mary K.

An Umbrella policy needs to match the underlying policy you have on the rentals. 

NREIG is a commercial product, that's the reason for the commercial Umbrella suggestion.

The State Farm policy is most likely a personal policy, that is the reason for the Personal Umbrella suggestion.

As far as coverage goes, an Umbrella policy rarely adds or removes coverage, it just raises your Liability limit.