business umbrella: Does the business umbrella cover all business entities you own? I am asking because I guess your 50+ units are under different LLC or entities.
I asked my insurance company, they said they don't provide insurance for the trust itself. So we have to get 1M personal umbrella to increase the liability of this rental house to 1.5M (the rental house insurance provides 0.5M liability).
But since me and my father own this rental house, we were told we have to buy separated umbrella for each of us. They charge almost $400 for 1M umbrella, which makes two almost $800.
I asked my insurance company, they said they don't provide insurance for the trust itself. So we have to get 1M personal umbrella to increase the liability of this rental house to 1.5M (the rental house insurance provides 0.5M liability).
But since me and my father own this rental house, we were told we have to buy separated umbrella for each of us. They charge almost $400 for 1M umbrella, which makes two almost $800.
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