Liability Insurance

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Lea Ann's picture
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10/11/2013

Good Morning!

We got our quote for insurance yesterday (wow) and we have 2 million in liability. Is that too much? 

 

Thanks for sharing!

Lea Ann

gillumhouse's picture
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05/22/2008

I have nothing to protect - our next stop is toast & toast - so I do not carry a lot of liability. IF we were younger and needed to protect assets we would carry more. IF there were to be a problem, they would get whatever my liability is and if they want more, take my house. I will (if we are still upright) have one of my kids buy a trailer in their name for me to live in until I go room temp. Being old has its perks.

Generic's picture
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02/24/2011

We are required by law to have a policy of $2 Million. 

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Joey Camb's picture
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04/02/2010

we have 5 million but that would be $10 in USA but our building alone is a good chunk of that and we have to cover for accidents and crap like that + cover while we rebuilt ie loss of earnings

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Breakfast Diva's picture
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05/26/2009

We have 2 mil also. I can't reveal how I know it, but most b&bs in my state have a 2 mil policy.

OnTheShore's picture
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08/28/2011

Depends on what assets you are trying to protect, as well as the risks to which you are exposed. You probably also want to make sure that all of your other insurance policies have similar liability coverages (an umbrella policy would require that).

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