We don’t know what the future holds, and no matter how meticulously we try to keep our rental property secured and our renters safe, we’ll never know when a complaint or accident will arise causing us to potentially lose our property in a lawsuit battle.
Bottom line is this can be financially devastating for any rental property owner. The good news though is that, there is an umbrella policy for you. Providing excess coverage above and beyond the landlord’s and auto insurance policy, umbrella coverage policy can provide a minimum of $1 million of added liability protection for only a few hundreds of dollars annually. [Read more…]