Should I need an Umbrella Insurance Policy for my SFH's

[David K.]

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

[Heidi Wilson]

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.