I have been doing a house hack the last few months of my 5 bedroom SFH (have filled 4 of the rooms and I live in 1 of them) and am now renting an external garage here for someone with an antique car. Do you recommend an umbrella policy?
I have been doing a house hack the last few months of my 5 bedroom SFH (have filled 4 of the rooms and I live in 1 of them) and am now renting an external garage here for someone with an antique car. Do you recommend an umbrella policy?
I have one and see it as just more coverage ‘just in case’ something happens. My tax advisor also suggests we can write off that expense since it’s Real Estate related to our Business.
Would you look for a policy from the same agency you have your homeowners insurance with? For example Geiko or one of the big names? Could someone share some recommendations and what to look for in an umbrella policy?
@Gregory Koszkul I think it is just a liability limit, like 1m. My policy requires me to carry a higher liability in auto too...probably because someone is more likely to have an auto injury claim than someone getting hurt on your property.