Posted by Kim on August 01, 2003 at 22:31:49:
ALL of your underlying policies will have to have the minimum required liability limits. In general, it will be less expensive to have both the umbrella and the underlying policies with the same company. Talk to your agent for all the details.
Can you help me w/ an Insurance question… - Posted by Scott P
Posted by Scott P on July 31, 2003 at 12:07:48:
Hey all,
I am also trying to figure out how to best protect myself from a future liability lawsuit. I currently rent my primary residence b/c I live in NYC where rental dollars go ALOT further than buying dollars. I own 8 rentals in surrounding states. Most are condominiums so their exteriors, roofs, etc are covered by master insurance policy. I can get a condo policy to cover the insides if a fire erupts or some similar catastrophe, but I am much more concerned about someone hurting themselves in a prop and coming after me in a lawsuit. If I owned my primary residence, then I could get insurance on each rental prop through as an extension to my homeowners policy. Because I do not, I think my only option is a dwelling policy with liability addendum. I am having trouble finding anyone who offers such a policy and I’m not sure if this is the best route to take…any suggestions?
Re: Can you help me w/ an Insurance question… - Posted by Shawn J. Dostie
Posted by Shawn J. Dostie on July 31, 2003 at 12:15:58:
I have a million dollar umbrella policy for that purpose. Ask your agent for details.
Good Luck,
Shawn(OH)
Talk to your P & C Agent - Posted by John Merchant
Posted by John Merchant on August 03, 2003 at 19:42:30:
A good, knowledgeable P&C Agent can help you solve your problem. He/she knows how to get you covered on your home & non-owner props, for fire, theft, liability, etc.
If yours cannot, then you should shop to find a smart one. This is a simple matter for a good agent.
Re: Can you help me w/ an Insurance question… - Posted by Scott P.
Posted by Scott P. on July 31, 2003 at 13:59:00:
Don’t you need homeowners policy with certain minimum threshholds to get an umbrella?