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xandrom

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Posts: 57
Reply with quote  #1 
Its that time of year in terms of insurance renewal and my carrier just raised the premiums substantially (of course) on additional umbrella liability insurance policy.

Just like everyone else, I'm trying to control costs in order to squeeze a profit. 

Question to Landlords of Apartment Buildings:  Do you all carry umbrella insurance, and if so, generally how much coverage?  In the past, I've added $2 million supplemental coverage.

Thank You.

Xandrom in Los Angeles, CA.
OHlandlord

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Posts: 3,809
Reply with quote  #2 

In OH, we normally carry $1m of liability.  But jury awards here are much less than what they are in some other states.  Look at what your courts have awarded to tenants or injured parties and decide based on those award levels.

stypy

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Posts: 2
Reply with quote  #3 
It provides an additional layer of security to those who are at risk for being sued for damages to other people's property or injuries caused to others in an accident.

Fire Insurance Claim Form 


raynolds3

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Posts: 35
Reply with quote  #4 
People have been highly inclined towards watching sports for betting purposes and deriving immense satisfaction. On line sports has attained tremendous popularity as it endows people to watch sports in a suitable manner without any intricacy.  On line sports have delighted people to a great degree due to its effectiveness.

betting tips
ricky18ponting

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Posts: 16
Reply with quote  #5 

Umbrella insurance refers to a liability insurance policy that protects the assets and future income of the name insured in addition to his or her primary policies. Typically, an umbrella policy is pure liability coverage over and above the coverage afforded by the regular policy, and is sold in increments of one million dollars.

Home insurance policy

billg

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Posts: 1
Reply with quote  #6 
You wrote in your message "apt building owners" so that may change my suggestion.  I own houses and twinplexes in Ohio and I reached a threshold where my umbrella went from roughly 320.00 a year for 2 million to basically 700 a year for the same. This covers my llc which holds a couple of houses and my other houses in my own name.  For the price it can't be beat because it covers everything in my life that I could be sued for . I'm not a lawyer but I would put more faith in that umbrella policy than my llc, hopefuly I never need to.  I'm not sure how it works with apt buildings.
davidrichard

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Posts: 12
Reply with quote  #7 
Umbrella insurance refers to a liability insurance policy that protects the assets and the future income of the home insured in addition to his/her primary policy. Nowadays it is important to have this kind of insurance which is helpful at the time of problem.
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