Looking for umbrella insurance recommendations

[Romain Nguyen]

Hi all, 

I'd be interested if some of you can share recommendation of good umbrella insurance companies that you're using, and am also interested in insights regarding the coverage that you selected. I understand that these parameters are largely dependent on everyone's situation, so here's more context: 

- I live in California and am planning to buy my first rental property outside of California (I'm planning to do buy and hold) 

- I was initially considering establishing an LLC in order to protect my personal assets, but I realized via other threads (link) that doing so would cost me about $800 / year since I am a California resident, and the law requires me to establish the LLC in California. These costs sound high for a first buy and hold property, and using am umbrella insurance seems to be a good alternative at a fraction of the cost. My understanding is that an umbrella insurance is an appropriate alternative as long as my portfolio of properties remains modest (this article and the example of the warehouse was insightful) 

Thanks in advance for any insights that you can share, and have a great weekend, 

Romain

[Ana Marie B.]

@Romain Nguyen - You’ll want to purchase umbrella insurance through your auto insurance provider. In my case I use GEICO. Low cost.

Glad you're leaning towards umbrella insurance over LLC for your first rental. Smart move. Good luck!