Our insurance carrier was very specific about producing a lease. 

It your current carrier won't add it find a new one and be sure to start with the llc and your name as the named insured then they won't have s problem 

Just notify your liability carrier and be done with it.  

Ideally, as in the case of many carriers, you will have a variable interest rate that is currently much lower than the rate you are earning. 

The insurance carriers can be fined by the state if they don't follow the law. 

Make sure your underlying policies meet those minimums or you could have a gap in coverage.If you can find an umbrella carrier that will list all the LLCs, partnerships, and individuals involved that will generally be the least expensive route vs separate umbrella policies for each entity.

In this case it is a property I have had for several years (new carrier this year); seems a bit unnecessary for a property that has been there for many decades without needing them. 

His home owners insurance will pay if he has State Farm, but not if his insurance carrier finds out it was business related.

If so, you will need to speak to the association and see if a claim was submitted and who the Insurance carrier is. 

An Independent Aduster handles the claim with the insurance carrier for you for a fee (normally a percentage of the claim).