Looking my insurance policy it mentions that I can opt for settlement under Actual Cash Value vs Replacement Cost. 

They focus on safety issues, such as wood rot, water damage, and structural integrity of balconies and decks.

I own my own house and I own some land out of state, so I have assets I want protected.I have quotes and will be purchasing an insurance policy that provides 1 million in landlord liability and I can also purchase an additional 1 million in an umbrella policy.My question is, is it even possible, or has anyone heard of a landlord getting sued and losing over $2 million on a simple duplex?

You could see insurance policies in the six figures. 

I also make sure to specify in the lease agreement that I need proof of coverage before move-in and that the policy should name me as an “additional interested party.”

We have a strict policy of not deleting posts. 

I don't think you can purchase a policy for one tenant, but you can create a master policy for all your units.

New occupants will be coming soon, but in a 3 family, i have set of excellent student tenants that renewed.That said, many landlord insurance policies have exclusions for students, so I am trying to gather info on updating a policy to consider the fact that the building is only going to be 33% student occupied.  

They are about to move out and I’m nervous to rent to a stranger in the future with this same policy.

What kinds of policies do you think might help ensure ongoing affordability as Texas continues to grow?