If you need liability coverage only, you can get a personal umbrella insurance policy from most carriers, likely your current property insurance company would be the one I'd start with.~ Lindsey

Options vary by state, particular properties/locations, products within particular carriers, etc.It's really important to talk to an agent/agency that is impartial and looks out for you.

From what I understand new carriers have been added to the tower since the lease was sold.

My carrier, Mercury, opted not to renew because my buildings turned 60 in 2022 (policy cost = $11K).

The last few words are critical because a judgment entered against a plaintiff or even a settlement for that matter where no insurance carrier is involved does not guarantee compensation.

You should contact your current company to see if they can insure it as a STR, if not you will need to find a new carrier.

It's precisely the lottery size judgements that either exceed you insurance or are dodged by your carrier that make it a good plan to have another layer of protection  of a limited liability entity.

On the CA side there are more carriers that have pulled out of the market.

You can start by reaching out to independent insurance agents who work with multiple carriers and can provide quotes from various companies still willing to insure rental properties in high-risk areas.

If they file a renters insurance claim, the carrier may seek recompensation from your contractor and/or you if it's the contractors responsibility to cover the damages.