Umbrella policy Vs. LLC or both

[DAVID GAGE]

Not sure this is the right place for this post but here it is anyways. I now have 4 SFH that i rent out and feel like its time to start thinking about some liability protection. I've started an LLC but still carry the homes in my name because the bank wouldn't loan me money otherwise. I do own 3 outright so i could move them to the LLC. Well after talking to a couple REI that i know and they said they don't have their homes in a LLC and they just carry a Million dollar Umbrella policy.
So what does everyone think. What are you using? One the other or both? Thanks for the help.

[William Johnson]

Both have different roles in asset protection. You should have both.

Best to have an asset protection lawyer recommend a course of action in consultation with a CPA and insurance agent.

I'm in the same boat as you: I bought two properties with only an umbrella for several years. Now I have bought several more and I am now looking into LLCs. On complication is that I live in one state and the properties are in two other states.