Is umbrella insurance necessary if...

[Jordan L.]

Do I need umbrella insurance if my liability limits on my properties are already 1 mil/property, 2 mil aggregate? I’m running into issues getting an umbrella policy as my vehicles and properties are insured through different companies.

[Darius Ogloza]

$1 million per occurrence is way better than the standard $300K.  Are the defense costs included (do the policy limits erode through payment of defense costs or not)?  If the defense obligation is unlimited, I would personally feel pretty safe with these limits.  If eroding limits, less safe.  I would approach the issue by examining the most substantial risks you face.  Do any of your tenants have young children?  Is there a swimming pool on any property?  How about carbon monoxide risk?  etc.