(The claim situation)How did the umbrella policy protect you?

Also, most Umbrella Policies only pay out if your underlying policy pays out, and the underlying policy will do everything they can to find an exclusion or that you were negligent (which you probably were) in the cause of action to get out of paying the claim.

@Chungying ChuIf you want more liability coverage, ask your insurance company if you can increase it.

If you are worth “something” then you need the umbrella policy.

Written policies are necessary when you add employees to aid with training or enforcement of standards.I would focus on adding doors to your management company.

.: 500K is high and will exclude lots of companies from writing the renters policy. 

Also make sure to have owners add you to their property insurance policies, so you have liability protection. 

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Quote from @Mel Rosario: HiDoes anyone know which companies that are willing to insure multiplexes in California, particularly coastal Oceanside, CA? 

To the insurance company they will view an STR differently than a LTR.