# Liability Insurance



## Jademonkey (Apr 8, 2009)

Hi,

I am in the process of purchasing my first rental property and was wondering if it is standard for the owners to obtain liability insurance and if so, where would you suggest I look for this?

Thanks


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## leslie (May 25, 2009)

Yes.
Your local storefront insurance broker.


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## iherald (Apr 18, 2009)

Yes, I'd suggest 2 million, it's not much more than 1 million, and I can tell you no claims these days are for less than a million (most end up settling for a less than a million)


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## Jademonkey (Apr 8, 2009)

iherald said:


> Yes, I'd suggest 2 million, it's not much more than 1 million, and I can tell you no claims these days are for less than a million (most end up settling for a less than a million)


Do you have any idea how much I can expect to pay for this coverage?


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## iherald (Apr 18, 2009)

I think it was $40 more per year than my million dollar coverage, but I have all my insurance in one, which determines the total price.


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