| |
You are here: Experts > Money > Personal Insurance > Property & Casualty Insurance > umbrella insurance
Expert: Kristen Mulcahy, CIC - 11/3/2009
Question
QUESTION: A person has rental properties in GA, NC, IN, OR and CA. Does the person buy business or personal umbrella insurance policy? Which insurance company issue policy and pay claims in those states under one umbrella policy? Many thanks for your professional knowledge.
ANSWER: Ivan;
Easy question! Unless this person is actually living on the property, it's business insurance. And, this person would only buy an umbrella if there is a primary, underlying policy in place first. Lastly, an insurance company that's licensed to do business in all of those states would have to be used.
Good luck!
Kristen
---------- FOLLOW-UP ----------
QUESTION: Is it still business insurance even if all the rental properties are SFR? Can you provide names the insurance companies that do business in those states? many thanks fro your professional knowledge.
Answer
Yes, it's still business/commercial insurance. There are numerous companies that do business in all 50 states such as Travelers, The Hartford, etc... you're best bet is to use the services of an Independent Insurance Agent and they'll find the right company for the risk.
Good luck!
Kristen
Add to this Answer Ask a Question
|
|
