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DePaulo Agency

2 Windsor Drive
Scotia, NY 12302

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Do I Need Umbrella Insurance For My Rental Property?

As a landlord, your rental property is a significant investment, and you want to protect it. You are already a step ahead if you have landlord insurance, but you could still need more: umbrella insurance. Umbrella insurance offers additional coverage to your average landlord insurance, filling any gap your landlord policy may leave.

What Is Umbrella Insurance?

Umbrella insurance is an additional policy that covers beyond the limits of any other insurance policies you may have. This policy comes in handy when your other policies can’t cover some liabilities you incur in your rental property.

For instance, if your rental property gets damaged and you incur liabilities worth $600,000, yet your landlord insurance covers up to $300,000 liabilities, your umbrella insurance can cover the remaining $300,000. 

Why Landlords Should Have Umbrella Insurance

Tragic accidents can happen anytime, especially when we least expect them. As such, it’s safe to be a step ahead regarding protection to avoid incurring significant losses. Here are three reasons to have DePaulo Agency umbrella insurance.

It Offers Financial Protection

The cost of obtaining umbrella insurance coverage is lower compared to its worth. If something happens to your property, you don’t have to stress much about using your saved money, as umbrella insurance can cover the expenses.

It Covers Multiple Properties

Umbrella insurance is your bet if you have multiple rental properties in Scotia, NY. You only need to mention the location of all your rental properties to get the right quote and cover them all.

It’s An Extension of Existing Policies

Umbrella insurance is an extension for landlord insurance, home, auto, and other policies you may have.

Reach Out Today

At DePaulo Agency, we help rental property owners in Scotia, NY, acquire umbrella insurance at affordable costs. If you are interested in this policy, we will inform you of the options and help you choose the right one for your needs. Contact us today for more information and get started right away.