They can shop among their companies.You can call and benchmark it against a State Farm or Farm Bureau if you like.Get $500K of liability coverage in the policy, and ask for umbrella protection of at least 1mm (2mm even better); doesn't cost that much and necessary to help protect assets against lawsuits.

From what I'm reading it looks like people are using an umbrella policy to cover liability on all properties and then having replacement insurance per property.

They are all deeded and personally financed in my and my husband's name.My husband and I want to protect our assets, so we are thinking about forming an LLC in Delaware, but after researching, we are hearing that an Umbrella policy may be better for us.

solid advice tin....i'll work on being a leader...but i just couldnt' lead myself to the answer you wanted, and based on your last thread, that was such a hit, i assumed you already had the answer in mind...to answer your question, you shoulda first implemented strategies to prevent this...corporations, trusts, LLC's...lots and lots of insurance and umbrellas, etc.

Is that what umbrella insurance policy covers?

In regards to the insurance factor I know some companies have umbrella insurance that will cover you thru Lease option since there is a possbility of getting sued...Def something to consider.

I've had my car, home and umbrella insurance with Nationwide for about 15 years but just changed my car to Hartford (AARP, about 1/2 the Nationwide rate) in November when renewal rolled around.

They are like a giant umbrella you can put over your deals that protect you from taxes.

I know title (I have), propertie (I overtaken from the seller) and umbrella insurance.

Should I put it in it's own llc and get a personal umbrella or something like that?