Umbrella policies

[Andrew P.]

Hi, I own about 10 units and was looking to get a a general umbrella policy to cover any possible litigation. Is this a good idea? And if so what is a good coverage amount? 1 or 2 million? Thanks!!!

[Edward B.]

@Andrew P.,

Yes it is a good idea. Good luck getting someone to tell you how much. No one wants to be pinned down in case you get sued for more than your policy. I would start with covering your net worth and then work your way up to what you can comfortably afford from there.