An umbrella policy will provide as good or better coverage for you. 

That's when I pull of the form the buyer must sign if they decline owners coverage. 

IF you're highly leveraged on your rentals they're not an attractive target anyway and sharing the risk with a management LLC can give you some good coverage.

If this is a loan, you'll need a mortgage originator/attorney, disclosures and a closing and with title coverage.

The terms of the policy dictate what coverage is provided.

Seriously, my opinion is it's ridiculous, but on the other hand, so are umbrella coverage/liability insurance premiums and our reputation is all we have in the end.

Also, this may effect insurance coverage claims.Check out this damage from a rage AirBnb_rage

I would love to buy A class, but based on my experience financing these is really tough as these don't cash flow well, the banks usually wants a certain debt service coverage ratio and these being pricey really never works out.

Here is why: 1.They have let our property insurance coverage under their master insurance policy lapse for 6 months due to non-payment while still deducting from our rents to pay for the insurance premiums, and exposed our properties and tenants to tremendous risks and liabilities.

Premiums are going to vary based on things like policy coverage, deductible amount, claims history, etc.