Dear all,

I have acquired 4 SFH and 1 duplex in 2017, and I have two more in works that should close soon.

All except one I have done in partnership with a friend of mine and all of the properties were purchased using our personal names and conventional loans.

My guess is that I need to obtain the umbrella insurance policy to shield my personal residence and my family from any potential litigation.

What are your thoughts and what do you do in your own similar scenarios? How concerned should I be?

thank you!

Davd

Your current insurance agent is happy to sell a $2M whatever at min cost. You can cancel it if not needed.  If you have that much asset I would.....

Absolutely. I have 4 sfh rentals and an umbrella policy. I will move everything into an LLC for further protection but keep the umbrella. It’s a no brainer in my opinion.

HI David, 

HI David, I have two single family homes and two duplexes and carry a one million dollar umbrella policy. 

I would definitely wouldn't want to be without it, especially if you don't have your property in LLC.

Chad.

Do the umbrella policy. A $2MM Policy should be <$300/yr. You might be limited on the # of properties you can place under one umbrella policy, but do it!

Anyone can recommend a goo insurance company? I went to my guys at allstate and the quote that I got was 800 for 2mm - too steep.