single umbrella policy to cover all investment properties

[Nathan Williams]

Hello, wife and I have been shopping for insurance policies for new rental condo.  Property manager wants to be put on a 1 million dollar liability policy.

Is it possible/good idea to get lower liability insurance policy on each property and then get an umbrella policy that covers 1 million liability of every property we own, and add property managers to that same policy if they require?

thanks

[Anthony Gayden]

Originally posted by @Nathan Williams:

Hello, wife and I have been shopping for insurance policies for new rental condo.  Property manager wants to be put on a 1 million dollar liability policy.

Is it possible/good idea to get lower liability insurance policy on each property and then get an umbrella policy that covers 1 million liability of every property we own, and add property managers to that same policy if they require?

thanks

I have a personal liability umbrella policy that covers my 4 rental properties as well as my primary residence. The cost of the umbrella policy is very inexpensive, $163 a year. 

Your property manager should have their own insurance policy. None of mine require to be covered under my policy.