LLC vs Umbrella Policy

[Ryan Duncan]

Hey everyone, 

I have a few rental properties and looking to add more to my portfolio. They are all owned personally and not under an LLC. I understand most of the pros/cons of having an LLC own my properties. Such as reducing personal liability. I also understand it can be harder to get financing for an LLC, and multiple LLC fees add up each year. At what point should I highly consider moving these existing properties into LLC's and purchasing new properties under an LLC?

My mentality now is that I can just carry good insurance coverage on each property along with a massive umbrella policy which pretty much should cover anything under the Sun regarding litigation. 

Any thoughts/advice would be very helpful! 

Thanks!