You will still want to have adequate Liability (includling an umbrella) but the LLC generally protects from the claimants going after your personal Assets.  

The Claimant Name – That is, YOUR name3.

DEFINITION:  Under joint and several liabilityor all sums, a claimant may pursue an obligation against any one party as if they were jointly liable and it becomes the responsibility of the defendants to sort out their respective proportions of liability and payment.Meaning the landlord can go after both people or just one person.. but either way each person is responsible for the other's actions. 

The claimant got a settlement of over $200,000.00.   

Adi,I think you are asking about separation of your personal finances from the LLC so not to give a claimant a way to pierce the veil.

Defects, liens, encumbrances, adverse claims, or other matters***(b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; 

Also the owner of the real estate could have a high deductible and the insurance claim wouldn't cover much if any of the settlement and would make the annual policy go sky high.If you have an attorney send a counter letter and let the claimant's attorney know you will fight this tooth and nail the attorney might drop it if pro-bono.

The objecting claimant and Medi-Cal will be notified of the sale during the 15 day notice period.  

And challenges to noticing by missed owners, claimants and junior lien holders ( i.e.

I agree with @Jd Martin, but would also add that the claimant/plaintiff would also need to show negligence or prove the landlord was responsible because of something he "knew or should have known" or "did or failed to do."