Umbrella insurance Price

[Simon Lopez]

I closed on 2 sfr's  in 4 months.  Things happend so fast.  Now that everything is settled i have umbrella question.

I have 2 rentals I bought for about $60k Each 1 in Mi and 1 in Pa. 1 insurance company covers both house. Insurance is about Average $520yr each house. I will not open an LLC so I asked for an umbrella policy to cover both houses. I received a quote for $760yr thats 380 extra each house. Below is the current coverage.

Each Occurrence Limit $1,000,000 Per Location

General Aggregate Limit  $2,000,000 Per Location

Personal & Advertising Injury  $1,000,000 Per Occurrence

Medical Expense Limit  $5,000 Any One Person

Do you think $380 is alot for extra umbrella in these 2 states?

Or

Can i just ask the insurance to raise my Personal injury limit only?

Thanks

[Jason Bott]

@Simon Lopez most policies can only go to $1M in Personal Injury, hence the need to buy an Umbrella policy.

Check around for a lower cost Umbrella as there are options out there with premiums closer to $350-$400 for a handful of homes.