When I rent I purchase SLP (supplemental liability policy) that has a combined single limit per accident equal to $300,000. The thing is I have approximately 1.5 million in assets, mostly in nonretirement accounts. Is there an insurance provider that would offer an umbrella policy to someone like me who rents a car maybe five or six times a year? Live in Minnesota and my only other insurance is apartment renters through State Farm. Thanks all!
Interesting question. Id recommend contacting an insurance broker, not a captive agent. You might also want to check if a platinum credit card would offer this coverage. I’d start my search with American Express.
Checking with an insurance agent is a good idea. . I think that I read of an apartment renter who did not own a car and obtained an umbrella policy which included liability coverage for car rentals.
Why not just get $1M liability umbrella policy? It should cost you less than $300/yr.