Is there any way to get umbrella insurance if I don’t own a home or rent an apartment?

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I want to get umbrella insurance but I live with my girlfriend, so I do not own a home or rent an apartment.

  1. Reply
    June 26, 2011 at 7:45 am

    The answer is maybe. Call an independent broker. There are a few companies that will write stand alone umbrella coverage.

    Do you have a personal auto policy? If not I don’t see why you would need the coverage seeing as you have no real assets.

    By the way, you can still get a tenants or renters policy even though your girlfriend rents the apartment. Her tenants policy will not help pay for your stuff if there is a loss.

  2. Reply
    June 26, 2011 at 8:01 am

    As we have seen with the policies that Lloyd’s of London writes, as long as you are willing to pay, you can insure anything.

  3. Reply
    June 26, 2011 at 8:56 am

    Well, you need personal liabiltiy coverage, so you buy a tenant’s policy ANYWAY. If you live with mom and dad, you can STILL buy a tenant’s policy. You need the tenant’s policy, and an auto policy, then you can get the umbrella.

    You don’t actually have to pay rent, to have use of a renter’s policy.

  4. Reply
    Emily B
    June 26, 2011 at 9:35 am

    What assets are you trying to protect if not a home?

  5. Reply
    June 26, 2011 at 10:14 am

    YES. Umbrellla insurance (PUP policy) may require you carry certain liability limits on your auto policy. Some require you carry 100/300 liability, some require you to carry 500/500, it depends on the company. Call around….PUP is great and is super cheap!!!

  6. Reply
    June 26, 2011 at 11:04 am

    possible but expensive

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