Which insurance and legal entity for my project?

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Hello All,

i just purchased a couple of vacant parcels in California that i plan to build within 3 years.

The plan is to build 2 homes and sell one.

These are the only properties i have in the US, however i own substantial assets in Europe.

I carry the title in my name and have contracted a 1 million $ general liability insurance coverage for each lots for now. Builder's risk policy will be put in motion when the construction will start. 

As far as asset protection, do you guys think it is worth transferring the deed into a LLC and take an additional 1 million $ umbrella policy or is it an overkill?

Thanks for the inputs