If so, for them to stay they would have to cough up that extra money ...

At the cost, and given the benefits of most mortgage insurance offerings, is it worth it to pay (however much extra it is)?

The Excess Liability only follows the form of the underlying policies listedYou may have difficulty getting the umbrella because it normally covers over the Auto and Homeowners Liability as well. 

Quote from @Brandon Polcawich: I recommend you spend some extra time educating yourself on how to run the numbers so you don't miss something and get into a bind.

A year round pool is going to add way more money than an extra bedroom given you already have a large cabin. 

If I'd know that I'd be paying it for the life of the loan I would have been better off paying the extra 5% down payment and enjoyed the lower interest rate but I don't recall ever being informed of that or reading it anywhere in my documents.

Is the extra few bux a year worth it? 

I tell my clients to bring it up to the seller, suggest that the seller contacts their own CPA for advice, and then slightly adjust the sales price to compensate the seller for the extra tax.

As of late, I have been using my extra cash for PML and but I am also going to look at the mid-west market smaller MFs. 

Just a hookup and level site probably won't do too well, but if you put a little extra into it folks will be more interested.