Liability & Umbrella Insurance in NYC?

[snowman51]

I am finishing up training and would like to get all of my insurances lined up.

I would like to get umbrella insurance - however, I live in NYC and I don't own a car, and don't plan on buying property anytime soon.

What insurance do you recommend I get in this situation?

Do I need to purchase "non-owner auto insurance" to serve as my personal liability insurance? I do rent cars ~twice per year.

I have renters insurance. (I also have disability insurance)

[White.Beard.Doc]

In the past, I purchased a non-owners auto insurance policy to go with an umbrella policy. It was required to qualify for the umbrella policy. The non-owners auto insurance was $64/year, quite inexpensive, and it offers liability protection when renting a car.

[snowman51]

In the past, I purchased a non-owners auto insurance policy to go with an umbrella policy. It was required to qualify for the umbrella policy. The non-owners auto insurance was $64/year, quite inexpensive, and it offers liability protection when renting a car.

Good to know- and I'm assuming you had home owners insurance?

[SLC OB]

Does your renters insurance take care of a "slip n fall" (or other accident) at your place? If not, you need umbrella insurance. Do you have children? I know of a family that paid a significant amount of money (luckily through their home owners insurance) for an arrow that went through the eye of another pre-teen (lost the eye). The kid, who lost the eye, and parents invested the $$ wisely. Kid is now in college but has millions to his name.

[White.Beard.Doc]

Good to know- and I'm assuming you had home owners insurance?

Yes, if you own a home, you have to have homeowners insurance with acceptable limits of liability to qualify for the umbrella policy. If you rent, you have to have an acceptable rental policy to coordinate with the umbrella coverage. If you own a car, then the auto coverage coordinates with the umbrella, and if you do not own a car, then you purchase the very inexpensive non-owned auto policy to coordinate with the umbrella. Each umbrella coverage provider has slightly different requirements for the dollar amount of liability coverage required for the underlying auto and home policies.