Umbrella insurance for rental property with fuses?

4 Replies

Does anyone know of an insurance company that will offer an umbrella policy for a 3-family rental property that has fuse boxes? I have a homeowners policy with a company but liability is small and they don't offer umbrellas so looking to have the extra coverage. Property is in an LLC but the property also represents 80% of my wealth so want to protect it just in case something ever happens.

@David C. I use Allstate and they seem to have a ‘don’t ask don’t tell’ policy when it comes to fuses, knob and tube wiring, etc. they’ll do an exterior inspection, but I’ve never had them do an interior inspection.

I’m not sure how they treat properties owned by LLCs, but it might me worth a call.

DEFINITELY DONT RECCOMEND going with a 

‘don’t ask don’t tell’ policy when it comes to fuses, knob and tube wiring, etc.

as mentioned above. Don't give a carrier an excuse to deny a claim. Be up front and get a carrier who will cover what you need.

David,

I reiterate Tony's comment be sure they allow it or rather, their guidelines do not exclude it.  Where is the Rental located.  that could impact which companies might write your umbrella.  

Have you checked with your Homeowners or Auto Insurance agents. Some companies can include a 1-4 family rental in an LLC if the LLC members are just the Insured and spouse.