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Michael Craig
  • Rental Property Investor
  • Saratoga Springs, NY
200
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238
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Is $500,000.00 in Personal Liability Addequate for Owner Occ MFR?

Michael Craig
  • Rental Property Investor
  • Saratoga Springs, NY
Posted Nov 19 2018, 06:30

As you know, we live in a society where you get sued for looking at somebody the wrong way. As I am shopping for insurance, I can't help but ask myself, "what is adequate coverage for my owner occupied, 3 family home?". Most quotes I receive default to $500,000 in personal liability - is this adequate? 

Keep in mind that this home, my $6,000 car and my 401K are the only notable assets that I own. The house is not under an LLC. What are your thoughts? Thanks!

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