We use SAFECO for everything - umbrella insurance, investment properties, primary residence, auto. 

For various reasons I need to keep the cash and any investments I make under the umbrella of this LLC and cannot transfer into my personal name.

However, if I were to do the former, I will have no money for reserves or emergency funds and I  keep thinking how the worst can happen like a furnace going out, I get laid off, etc. and now I have no net to fall on or umbrella to cover me.As much as the numbers seem to work I don't have all the money on hand to do this deal.

Also, if I transfer each property to a separate LLC, my insurance agent said I will need an umbrella policy per LLC, if I want to have more than $500K in liability, the landlord policy has a $500K limit.1- Do I keep all rentals in my name and have a 3 million umbrella policy, will be a lot cheaper, plus have landlord policies per rental?

I would see the loc as another layer of protection in My overall protection skin such as insurance and maybe even umbrella insurance.Now let's take another somewhere you.

This is why IMHO paying an extra few hundred dollars annually extra for solid insurance along with high liability coverage and maybe an umbrella policy ( if the property is personally owned or expensive enough to be more than liability limits in LLC) is worth it.Finally, I also think that a solid insurance agent ( while not as useful for primary residence) is very valuable for rental property... they can inform you about many various options and can offer access to coverage that can truly save you in a pinch such as cyberattack liability coverage.Just food for thought.Happy investing !

I do have an umbrella policy in place but maybe that's not enough.My big picture goals are to cut down the interest I would be paying on these 4 current loans if I did nothing and kept the loans as they are. 

Get an umbrella liability policy and enjoy those conventional rates for a while longer. 

Side note: I'll be increasing our umbrella insurance coverage also post-close.Cheers!

My umbrella insurance just got canceled by Geico recently after I acquired my 7th property.