Umbrella insurance -- how much?

[Ryan Logue]

My wife and I are curious how much umbrella insurance we should be carrying in the below scenario. We are relatively new to the real estate investing business, have two properties, both sole-proprietor owned (no LLC) with maximal insurance. One of those properties is a rental for 5 college students a block from a college campus. We would be considered high income earners on each of our W2 incomes, we have less than $1,000,000 in assets, and have a goal of accumulating much more rapidly.

Is it advised to carry more umbrella insurance in the above scenario assuming we both plan to keep our W2 jobs and thus protect against future garnishing of wages in the unfortunate event of a suit costing more than our net worth?