Even Renters Need Umbrella Liability Coverage

luxury condos

With no car and a simple apartment, Andrew, the adult child of significant family wealth, thought he didn’t need any insurance. But that’s not the case at all!

While a renter’s policy will help with replacing his belongings, the key to true protection is having an umbrella liability policy.

For example, say Andrew accidentally tripped someone in a store, and that person was injured and sued him. Sure, the family could pay out of pocket to protect Andrew, but an umbrella policy would mean they didn’t have to.

For $487 per year, we were able to secure both a renter’s policy and $2M in umbrella liability protection. Understanding the family dynamic and customizing coverage for each family member is key to properly managing family risk exposures and assets.

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