He opened my eyes to an umbrella policy and a pro forma.

Proper included $2 mil liability but I already have an umbrella policy, it was 5% hurricane deductible vs. 2% Fednat, $600K property coverage vs $900K for Fednat, $150K income loss limit vs $90K for Fednat, etc.

We plan to obtain homeowners insurance (obviously), landlord insurance and an umbrella policy.

And should include an umbrella policy too.Same for taxes - make sure you use the actual tax.

There are homeowners', renter's, and even umbrella policies.

Less concerned with liability - between insurance on the home, umbrella policy and AirBNB's host insurance - I feel comfortable with my coverage.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is likely to be higher, then you may consider an umbrella insurance policy.

For extra protection, consider Umbrella Insurance against big events or lawsuits.

I heard that there's something called an 'Umbrella coverage' that I can do through my LLC instead of separate policies?

have to use commercial financing, have to be careful of co-mingling otherwise you pierce your corporate veil,Hold Title in your personal name and buy homeowner insurance and umbrella insurance.