If you are just buying and holding for yourself with no other investors you may not need it.The Umbrella policy is designed to give additional liability coverage that kicks in when the limits of the underlying policy(ies) are exhausted. 

Exhaust that avenue before you think about your insurance!

I would exhaust all avenues to come up with the money.

I have spend a few weeks of 12 hour days exhausting all financing possibilities I can conceive of and find.I even emailed the city a moment ago asking them if they could take a municipal loan to help me acquire their "High Priority" industrial lot.

(after emotionally exhausting themselves on a few offers...).

Lessons learned:Don’t quit on a deal until you’ve exhausted every possible outcome.

For the right deal this can work.This list is by no means exhaustive, and I encourage you all to talk about other types of lenders out there, please add them in the comments to this post.

I assume not since I don't see any exhaust fans on roof for a hood.

Exhaustive record searches are key. 

They are too exhausted and just want out.