Max Liability/Umbrella Insurance in New York City + Agent recs?

[Francis V.]

Hi all - new to BP and still trying to figure out this website

Regarding liability insurance, is there a rule of thumb to determine the total liability insurance needed (including umbrella) for rental condos in NYC?

In general, it seems that the maximum allowed in NYC is $1 mil per incident/max $2 mil annual total (at least, that's State Farm's) but of course one can add on several million as umbrella insurance.

Assuming no LLCs are created for the properties (and thus unlimited personal liability, in theory), should the total amount of liability insurance be a multiple of one's net worth? Or simply as much as one can afford?

If each property is held in an LLC, should the rule of thumb be only the value of the property itself?

As a side note, if anyone has any recommended insurance agents based in the NYC/Greater NY area, would be much appreciated.