insurance coverage for short term rentals?

[Steven Skarupa]

I just signed a contract for my first rental property on Christmas Eve.  Nice little bungalow in northern Cape May a block or two from the bay.  Has the potential of bringing in 2K in positive cashflow!

Now I'm in the due-diligence stage and wondering about insurance.  I've reached out for quotes on flood and standard home-owner insurance that the mortgage company is asking for, but I'm thinking about getting an umbrella coverage or similar to cover the rental business.  I'm not even sure where to start on this - I'll probably start calling insurance agents tomorrow, but thought I'd get the opinion of those of you who are further along this journey before I do.  What questions should I be asking?   

Thanks in advance!

-Steve