How much liability coverage?

[Eric H.]

I'm about to close on my first property and am looking into picking up an umbrella policy. I have 1 million liability on my homeowner's insurance and got a quote for 1 million coverage on my rental property and am also thinking about getting a 1 million umbrella policy. Should I lower my homeowner's and rental liability coverage to $300,000 since I have the umbrella or should I keep those at 1 million? Would the umbrella even be necessary at this point?