Insurance for rentals and LLCs

[Carlos C.]

Hi, 

I'm making a few changes on the setup of my rentals and would like advise on the way the insurance should be setup to have adequate/optimum coverage. I have Farmers insurance Company.

Rental ABC Main St. 

1- Add a Landlord policy, with a 5K deductible(to lower premium) and increase liability to the max 500K.

2- The rental will be owned by a SM LLC. The LLC will be added to the Landlord Policy in the "other interest" section. The rental is paid in full, no mortgage.

3- All LLCs will be owned by an Irrevocable Trust.

4- The same setup for each rental.

Question: 

1- I would like to add an umbrella policy to increase liability coverage, maybe 2M, but my insurance agent said that I will need 1 umbrella policy per LLC, is this accurate?

2- Another suggestion was to increase my liability coverage on my home insurance policy, this should help if I get sued personally, since I do all the day to day maintenance on the rentals... is this accurate?

Advise? thanks.