umbrella insurance or llc?

[Vidyadhar R.]

Hi, I'm debating whether I should purchase umbrella insurance or setup an llc for my rental. Below is my conclusion

If lawsuit amount > umbrella coverage, I'd be liable for remaining balance and I could lose the rental and personal stuff. with an llc I lose rental only. So llc is a better choice

If lawsuit amount < umbrella coverage, there is no personal liability and I'd not lose rental. With an llc I could lose the rental. So umbrella insurance is a better choice

In both cases I'd lose my rental if a lawsuit arises. Is this accurate? Please comment. 

To ensure I don't lose the rental regardless of the lawsuit amount, should I get both umbrella insurance and setup an llc? please advise. Thank you.