Umbrella Policy - How Much?
Hello All,
I am wondering how much of an umbrella policy it would be wise to carry. Is there any way to figure this out based on the number of properties in ones portfolio? Or should it be more related to the amount of rent being collected?
Any thoughts or advice would be appreciated.
Thanks,
JS.
We carry State Farm personal for 1m and State Farm Commerical for 2m. We also have a liability policy for our Realtor activies. We are increasing the commerical to 5m as there was recently a lead paint case in Richmond that cost the landlord/owner owner over 2m.
Make sure the $5million picks up lead exposures. Most GL contracts specifically exclude it...
Quote:
On 2005-09-09 14:31, jimandlacy wrote:
We carry State Farm personal for 1m and State Farm Commerical for 2m. We also have a liability policy for our Realtor activies. We are increasing the commerical to 5m as there was recently a lead paint case in Richmond that cost the landlord/owner owner over 2m.