Homeowners, liability, landlord insurance?!

[Marc Izquierdo]

Hello everyone! I am starting to look at and analyze some deals in hopes to buy in a year or so. Specifically multi-family (3-4 units). During the analysis process, I started to think more about insurance and had some questions. I know most every property is going to need your basic homeowners insurance. However, what about liability insurance? I've been flirting with the idea of purchasing this property under an LLC to have the liability portion covered. For the sake of argument, what if I didn't? If I decided to take title as a sole proprietorship, what other insurance would I need/how would it be structured? For example, would I get homeowners insurance w/liability coverage included? Homeowners and liability separate? How about landlord insurance (rental dwelling policy - if I recall that name correctly)? Also, when analyzing a property, how do you estimate a policy price? I've read $300 per year per $100k of property value. That seems solid to me but I want to see what others think. Any help would be great. Thanks in advance!

[Holly Emmett Correira]

I second the umbrella policy.  It's cheap and the extra protection can't hurt.