CA is brutal when it comes to taxes.I don't give tax or legal advice, but many people believe that holding the property in your name and having a good umbrella policy is a good solution.

I have umbrella insurance under my personal names currently so I'm wondering if the umbrella insurance would cover me in the event of some liabilityQuestions:- Am I better off keeping the rentals in my name since I have umbrella insurance?

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 expected to be higher, you may consider an umbrella insurance policy.

Quote from @Shakthi Kamal: If you don't know the answer, choose the umbrella insurance.

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 expected to be higher, you may consider an umbrella insurance policy.

And all the tenants' security deposits and all the buyers'Earnest Money Deposits don't need my asset protection, as they are not my funds, and are certainly not covered by any of our Umbrella Insurance Policies. 

-Have an extra umbrella policy-Speak with my real estate attorney to make sure I did enough to limit my liability. 

Get replacement cost hazard insurance along with an umbrella policy of at least $1M, probably double in your area.

Many companies offer 300K max and above that they'd need an umbrella. 

I believe solid insurance and a good umbrella policy will suffice.