We are already planning on getting an umbrella policy but would also like to take advantage of the protections afforded by an LLC (which undeniably aren't too strong in the great state of CA).

Make sure you have enough insurance, umbrella policy. 

Unless your only concern is to have a check made out to "Kick Butt LLC" vs "Karla Talancon" lolResearch: Piercing the corporate veil, self managed, LLC vs umbrella, commingling funds, etc. 

We will of course extend liability from our personal home and get an umbrella.  

I'm also going to get an umbrella policy, but they are pretty tough to find affordable ones in Florida, especially when you have 10+ rentals.

There is a lot of talk about getting liability protection through LLCs and people on here who purchase umbrella policies to hedge against the risks of owning property.I don't want to debate whether any of these help, I want to know if you or anyone you personally know has had a claim on an investment property that has exceeded the policy limits. 

Personal liability and personal umbrella policies may not pay for your negligence and court awarded penalties are always higher in cases of negligence of a sophisticated party.None of the above is legal advice I am a general lines insurance trainer consult your lawyer and a local state commercial insurance professional.Good luck

Lastly, I'm in sticker shock from the umbrella insurance quote I got from our State Farm rep (we've had everything...home/5 cars/son's renters) under SF for over 30 years...the $1m policy is over $1100 per year additional to what we already have.

Hello BP community,My partner and I are looking to market to home owners in NYC with delinquent taxes.Here is my question: Once the property tax lien was sold at the tax lien auction to tax lien servicing company like TCM, can I still buy the property from the home owner?

Some would advise you to get an umbrella policy through your insurance company.