STRs and LLCs and Insurance -- Asset Protection

[Joshua B.]

Hi All --

I read an earlier post on Biggerpockets about whether or not STRs should go into an LLC. My takeaway was that unless you have 10+ properties that it does not make a lot of sense. It sounded like it can be easy to "pierce the vail" of an LLC for a personal injury lawyer to go after personal assets (they sue the LLC and then they sue you). All things said... I feel like I can't protect against a situation where I get sued (e.g. someone slips and falls) and they "only" choose to go after the liability insurance on the property's policy, leaving the umbrella policy to pickup anything above/beyond the liability from the STR property. This seems simple enough and I could increase my umbrella coverage limits for added protection. However, how will I know a good lawyer will not stop there? I've been watching a lot of videos from https://www.strlawguys.com/ but this is going to cost a good chunk of change to setup a fairly complex protection structure. I'm curious what others are doing in this area and how worried I need to be about it (e.g. should I be thinking more than increasing the umbrella). I welcome your input!