Adding your property manager as an additional insured means they will be listed on your insurance policy as a named insured.

Hopefully your lawyer also mentioned insurance- title and hazard.A quitclaim deed transfer can hurt your title chain and title insurance. 

I have home owners insurance should i buy another landlords policy as well?

If you research recent sales you can always provide the appraiser a list of those sales.One of the best ways to insure a higher value is to update the property using materials and fixtures that are popular and common in the area.

., We were over a decade without insurance, and when I refinanced and insurance was needed, I had no trouble getting insurance in place.  

I could buy a LOT of umbrella (additional liability) insurance for $13,000.

For example, we need proof of renters insurance and proof they put electricity in their name.So, it seems odd that you are accepted but they keep wanting more information. 

Promissory notes are transferred by endorsing the back or a document called an allonge.

Any recommendations for Umbrella insurance providers for each partner to cover any liability?

Calculating these losses involves documenting the fair market value of the property before and after the disaster, adjusted for any insurance or other reimbursements.