Renters Liability Insurance

I own a rental property in Houston. Since I live abroad and have no owners or renters insurance, the insurance company for my investment property will not write a policy coordination 1000.000 $. My housing policy capital goods coverage LIABILITY $ 300,000 in it.

Can I buy $ 1000.000 umbrella policy? The names of insurance companies?

Thank you

You say you have a policy on rental housing, so I guess the home (1-4 units) and is well covered in the lease. Who owns the property, you personally, or by a corporation? If it is personal, you can try a company called RLI (public company, you can visit their website and find an agent). They have umbrellas without support businesses. If it belongs to a corporation, you will need a trade policy with trade umbrella.

You can ask if the policy accommodation can be struck to $ 500K on liability limits. My blog has an article on dwelling coverage for rental properties may interest you.

There are a number of companies that write mono-line umbrella. So, go shopping. But if you own a rental property, you must strengthen your existing policy, or replace it. Get a good commercial package policy with a reasonable limit construction to a minimum liability limit of $ 1 million per occurrence / $ 2 million overall.

I agree with the guy above. You should contact an independent broker.

You may be confusing terminology here. An umbrella is useless in this case. You need a "general liability" policy and a new insurance company. For a policy of additional liability coverage if the owner is not around $ 500 more per month. I see no reason a police insurance for a rental, the Owners' Liability coverage should cost you much.

A general liability insurance for a rental business property (you can feel this new business entity, even if you're not a corporation) manages about $ 500 - $ 700 per year and can cover all the properties you own. For example you can have a $ 1 million per occurrence and an amount of $ 5 million aggregate limit. You do not need the liability of owners of each property, just a "shelter-fire" policy to cover the construction itself. An independent insurance broker or agent who is in the area Your rent must be able to guide you through this. If not, find one that does.

you need a commercial insurance broker instead of the one you are currently using. I suggest using either web search for Houston, or the phone book.

Trade and excess lines companies write the kind of insurance that you regularly search. Companies whose core business is the owner or tenant insurance limit coverage umbrella for properties where the client resides in a property covered.

Of course, the insurance market commercial lines and excess is probably more expensive. However, no coverage in this age of litigation for the silliest things can be very expensive.

GL

OK, do you have your property insured in Houston? You need an umbrella on a commercial property business - not personal. The personal umbrella does not cover a business, anyway.

Thus, an umbrella business has a requirement of the underlying liability of $ 1,000,000, you will need to increase the maximum liability of rental property for $ 1,000,000 on this policy (it becomes the franchise on the umbrella) . And the umbrella should cost you about $ 1,000 per million.

I "m assuming that the property" location "in Houston is provided impropertly on a homeowners policy - which could open a Pandora's box if you ha.