Homeowners Insurance Coverage

[Logan Splinter]

Hey guys!

What does everyone have for coverage for homeowners insurance on their rental properties? I’m about to close on my first property shortly and comparing quotes I’m not sure what is needed/what isn’t or if it’s enough coverage.

Also does anyone have an umbrella policy. I know this is the way to go for liability coverage but curious when to get the policy. If my first property has let’s say $1,000,000 liability coverage, is it over kill getting another umbrella policy right away? Or would it be more feasible once I have a few properties under my belt. 

Thanks in advanced for your help.