Best way to insure a portfolio of buy/hold

[Mark Updegraff]

Hi all,
I apologize if this is a well documented thread already. I've built up a portfolio of 14 properties and haven't had the time to consider the best approach for insuring them. I've been working with a local company and they've been good about providing adequate replacement / liability coverage. From what I'm reading it looks like people are using an umbrella policy to cover liability on all properties and then having replacement insurance per property. Is that correct? Would I then cancel all the individual liability policies I have? Is the savings significant enough to justify? As always, comments & suggestions are highly appreciated.

Thanks!
Mark