Umbrella (or Excess) Policy


1 comment

  • Avatar
    Rebekka O'Melia (Edited )

    I am unsure if there's an 'umbrella' policy for professional liability insurance.  I doubt it.

    An umbrella policy could cover everything & can give you a higher $$$ level of coverage, but the caveat is that if you have a $1 million policy that covers 3 properties, if you have claims on all 3 properties at once, you are limited to the $1 mil.  So you really need to look at your risk.  If all 3 properties have the same storm or fire risk (they are adjacent to each other, let's say), it may be a bad idea.  If the properties are in 3 different locations, some with low risk, then it could make sense.  

    Hope this helps!

    Rebekka O'Melia, Registered Architect, NCARB, B. Arch, M. Ed, Step UP,  Step UP ARE 5.0 Courses 

    Comment actions Permalink

Please sign in to leave a comment.

Powered by Zendesk