(I'm not a lawyer)But I think, if you want to do get better asset protection, you'd need both properly setup LLC and also get an umbrella liability policy.For what it's worth, I set up my LLC for $50 to get my articles of incorporation, I have a simple operating agreement that I got from the internet and I set up a different bank account.

Hello - can anyone recommend an investor friendly insurance company that can write an umbrella policy covering 10+ homes in Florida?

Also, do you think we need an umbrella policy with this?

Look at getting a good umbrella or general liability policy through your local broker so that you are covered and all will be well if anything ever does happen.

The cost of setting it is up is not really much but if you are looking at one house, then just get an umbrella policy and they should project you based what I have read so far.

Something that came up is that we bought an umbrella policy (specifically because of the rental), but I'm not sure how much of it is or isn't tax deductible (if anything).Part of the umbrella policy covers the rental.

I have a few of them in LLC's, and I have an umbrella policy as well.  

You generally get a landlord fire dwelling policy which protects your property against damage and all perils, enough coverage for my personal belongings inside the property (appliances and any other furnishings), and enough liability coverage based on how much personal assets you want to protect (I cover the total value of my personal assets using an umbrella policy and a landlord policy combined).

In the meantime increase your personal liability limits if you're concerned or get an umbrella policy

If we take out an umbrella insurance policy, is there any long-term need to still quitclaim to LLC?