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Updated over 4 years ago on . Most recent reply

Travis Whithaus's profile image
Travis Whithaus's profile image
Travis Whithaus
  • Rental Property Investor
  • from Madison, AL
  • Member since Oct 22, 2019
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Travis Whithaus's profile image
Travis Whithaus's profile image
Travis Whithaus
  • Rental Property Investor
  • from Madison, AL
  • Member since Oct 22, 2019
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Travis Whithaus
  • Rental Property Investor
  • Madison, AL
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Starting Out

Newbie - Umbrella Policy?

Travis Whithaus
  • Rental Property Investor
  • Madison, AL
Posted

Hello!

I am looking to place our first offer shortly on a small single family property <$100,000 in value. My insurance broker mentioned it might be worth getting an umbrella policy of $1MM, which was $307/yr. Is this necessary, or wise, to consider, even though my portfolio isn't large? 

My wife and I own our personal residence and have a mortgage on it. 

Thank you for your feedback as we get one step closer to making our first offer!

Travis

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