Appropriate Amount of Personal Liability Insurance?

[Ryan Ellis]

Hello,

I’ve blindly been insuring my rental properties with the same insurance company I use for my personal home and auto. I need to dig in deeper to make sure I have adequate coverage. Ive been a buy and hold investor for 2 years now and have accumulated 5 sfh and 1 duplex. I’d really like to get your feedback on what is the right amount of personal liability insurance for rentals.

My current personal liability is 100k/300k per property. I’m looking at 500k per property with a million dollar umbrella. Is this enough, to much or to little?

Thank you!

Ryan

[Matt Moylan]

@Ryan Ellis 250k/500k on vehicles and 300k on all homes at a minimum for sure. I always recommend to my investor clients to carry an umbrella as well because of the extra protection it provides for such a minimal cost.

I also recommend to all investors I speak with to work with a broker AND work with an agent who has an investor mindset. They will be able to help you best.

Feel free to message me for further suggestions and guidance.