I haven't shopped around yet, but I imagine an umbrella policy for the pool would increase costs.I do have a smallish home maintenance fund saved of about $20,000 so could sustain any unforseen expenses for a tiny bit. 

My question is should I set up an LLC now or is an Umbrella insurance policy fine to start with?

I am not 100% certain of/if there is any tax benefit(s) but given my plan to hold forever it seems like having everything under one umbrella makes the most sense in the long term.

umbrella

500/500 with an umbrella on top if you’re worth $1million or more. 

It’s already being done so I’m not trying to reinvent the wheel, just find someone that has experience with that type of umbrella policy and liability insuranceOriginally posted by @John Underwood:I have seriously thought about adding an option to rent a golf cart.I get numerous questions about whether I rent my boat or where they can rent one.If I do the boat rental I would go through a 3rd party company that covers the insurance.Then I could.get a nicer, newer boat and have it paid for. 

You can then add an umbrella policy above this.

At this stage, I don't think I need to set up an LLC, but I see a lot of people recommending getting an umbrella policy.

You can start with the city website www.coj.net for the building department or property appraiser or the tax collectors office www.taxcollector.coj.net As for the structure of your deal just read the forums about llc v Incorporated and all the good information that can be found in there.One other thing I did with my units that many may not agree with is that I get a general liability coverage for each llc related to that llc and I would get an umbrella policy for you as well.

umbrella policy size since it will be in my name and not under an LLC?