Unfortunately for him, both he and his insurance broker thought he is safe with just the S Corp, and when they bought liability insurance for the S Corp for only $1 million, they never thought of adding an endorsement for the owners personally.

And personally, after working with them on several building transactions I would endorse them based on my own experience.

Title - ALTA 8.1 Endorsement $25 --> What is this fee for?

You should be able to get a primary homeowners policy (probably your least expensive option) with an endorsement for also having renters or tenants.

There are endorsements that you can add that will cover certain things and depending on the property and situation they can make a big difference. 

You can subcontract out your new deals after getting your 15 year CPA'as endorsement.

Also, make the contractor name you or your entity as additional insured on their policy and provide you with insurance certificates and endorsements prior to starting work.

□Do you consider obtaining an “Additional Named Insured Endorsement” when you transfer property you own to an owned LLC or a land trust?

-The ABC's of RE Investing-David Lindahl's: Multi-Family Millions, Emerging RE Markets, Apartment Houses Rich Course-Steve Burges: Complete Guide to Buying and Selling ApartmentsAny endorsements or suggestions beyond this list would be greatly appreciated. 

Most investors that buy partials will want a full assignment of the Mortgage/Deed of Trust and an endorsement of the original note.