Would an Umbrella insurance policy be enough to protect me, if I don't plan on expanding my portfolio?

I'm a fan of the huge umbrella policy. $4Mil in coverage will cost you less than two LLCs and would cover everything, including a lawyer to defend your properties.

Would it make sense to refinance them into some sort of umbrella?

Both landlord policy and umbrella policy.

Recently it was suggested to me that a better alternative is to have a massive umbrella policy and not use an LLC.

Perhaps an umbrella policy is a better option for a lot of people. http://www.nolo.com/legal-encyclopedia/limited-liability-protection-llcs-a-50-state-guide.html http://constructionlawcarolina.com/2012/05/14/sc-supreme-court-holds-llc-member-personally-liable-for-construction-defects/

Each property has a million dollar coverage and on personal there is a 4 times the umbrella in relation with net worth.

Originally posted by @Francisco Corral:@Will BarnardAs a new wholesaler I don't want to fall under this umbrella.

The greater number of properties you have the more you have to look for an umbrella policy that will provide some insurance coverage.

All expenses are paid by the plan and all income produced accrues tax-sheltered under the umbrella of the plan.