Umbrella without homeowners (young physician)

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Umbrella without homeowners (young physician)

Post by MrsBDG » Mon Jun 29, 2020 2:15 pm

Is it possible to buy an Umbrella policy without an underlying homeowner's policy? If a young physician has a negative net worth, likely for a couple of years, is there a way to buy an umbrella policy without owning a home? Mainly to protect attachment of future earnings in case of auto accidents. She's already seen a couple of fender benders turn into beck or back pain lawsuits for friends once the MD thing became known :shock:

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Re: Umbrella without homeowners (young physician)

Post by MP123 » Mon Jun 29, 2020 2:27 pm

She could likely get an Umbrella policy if she had Auto and Renters policies. Just ask her insurance agent.

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Re: Umbrella without homeowners (young physician)

Post by Alan S. » Mon Jun 29, 2020 2:35 pm

She could also substitute a personal liability policy for the renter's policy as the underlying non auto coverage, but the coverage value and cost of the renter's policy might be preferable over the personal liability policy.

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