Rental Property Insurance w/ Liability coverage

[Shawn Dandridge]

I got quotes from my insurance company, USAA, for two duplexes. Each policy comes with 1MM per duplex. Total cost for each duplex is around $60 a month. Is this too much insurance per duplex or does this sound about the market average. I have seen many posts talk about umbrella insurance and I was wondering do I need one of these although I have 2MM in liability insurance between the two properties.

[Colleen F.]

I would interpret that differently in that you have 1 Million liability on each of your properties so if you have an incident at property A or B you are covered up to 1 million not 2 Million. What you carry depends on what you have to lose. We currently carry similar limits but are also thinking of umbrella coverage but we would need to pay a lot more in our auto policy to do so.