You have liability insurance on each property don't forget and then I have an Umbrella Insurance policy on top of all of my rentals.

Don't need an LLC, which adds to the cost (for now since everything is in a trust and I have an umbrella policy for liability, eventually I will get an LLC where I can spread the costs out)I wanted to get everyone's thoughts on this.

Hi @Ian Dale Ibrado,In Canada under the commercialfinancing umbrella for multifamily, there is "conventional", "RegularCMHC" and "CMHC MLI Select" which have different requirementsfor debt coverage ratios, loan to values, down paymentrequirements, amortizations, and interest rates.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is likely to be higher, then you may consider an umbrella insurance policy.

Umbrella Insurance  is a good way to protect assests or some people use both .

We also picked up an Umbrella Policy for our personal assets as well.

some people are saying save your $800 and buy umbrella insurance.

This carrier essentially underwrites a package deal tailored to your business, bundling all your policies under a single umbrella, which could include General liability, Umbrella protection, and (obviously) property. 

I have a mix use building in CT. the ground floor tenant is a bar/restaurant that recently moved in. they got a $2M General liability insurance and is asking if that's enough. or if they should get an umbrella. the property is valued at around $700k, fyi. where can i read up on best practices for such a case?

And an umbrella entity to simplify management.