If you're holding the property in your own name consider a personal liability umbrella which would cover excess liability on your rentals plus your home, vehicles, boat, etc. 10 of my older rentals are in my personal name (the rest are in an LLC) and I keep a $5M umbrella liability policy which costs me about $2k a year to cover my primary residence, my vehicle and my wife's vehicle, my boat and 10 rentals.

All members are in the "master" BAF and then the Cells are under the umbrella of the LLC.

It was suggested to me that i get umbrella insurance for my personal home.

So here it goes, question about how to structure the rental property; llc, land trust, personally own with umbrella?

RE is under the umbrella of finance and economic development.

My personal insurance agency gives a discount of 10-15% on my insurance policy because I have multiple, personal (homeowners/auto/umbrella) policies at the same agency.If I insure this rental with my current agent, I'll get this discount on the policy, even though the policy is held by my LLC.

I have a million dollar umbrella policy that helps protect me -despite having only one rental property.

Between the two, the target is dealers (investors) being under some regulatory umbrella, or related activities like mortgage brokers who also pass RE through to the public or banks (ORE) being exemptions.

Each property is in its own llc and I have an umbrella policy on all of them.

I slapped this in the Starting Out section because I feel the people new to real estate would receive the most benefit from a thread like this.To get you started, here are a few I've seen:You don't need an entity for your investments, umbrella insurance is all you need - Right here on Bigger PocketsYou don't need umbrella insurance, all you need is an entity (LLC) - Again, here on bigger pocketsNegative cash flow is ok as long as (I'll stop here because I've seen about 10 "as long as" statements :) - Almost everywhere.Borrow money from a credit card or 401k to fund your real estate - Lots of places (Quick note: In the right circumstances, I don't think this is necessarily bad advice but for the general public, I believe it is).I have lots more but that should get you started.