Does this sound right? (Advice on first umbrella policy)

[Michael A.]

Good morning and happy weekend BP community. Hoping to get some feedback on an insurance scenario: Looking at best way to insure our first and only single family home rental. Have personal liability at 500k coverage currently. We are not an LLC. Spoke to insurance agent (who, for us, only insures this home and not the rest of our personal assets) about increasing this to 1 million and they said they could not do that, but could sell is an umbrella for 1m on all of our personal property for approx $400/yr. They recommended that we do this with the agent that insures our primary residence and automobiles as it would be cheaper. I felt that they were being honest as they are a small, local agency. Our family team has agreed to pursue the umbrella policy of 1m covering all personal property. Does anyone see any fatal flaw in this approach? Really appreciate your help as I learn more about umbrella policies.