Do I need umbrella policy if rental property insurance also includes liability

[Moses Lee]

Just purchased my first investment property. I am currently shopping for insurance. At this stage, I don't think I need to set up an LLC, but I see a lot of people recommending getting an umbrella policy. I got a couple quotes that includes liability coverage. If the rental property insurance includes liability, is it also a good idea to get an umbrella policy as well? I do plan on purchasing more properties in the future, but not anytime soon.

[Owen Rosen]

Quote from @Moses Lee:

Just purchased my first investment property. I am currently shopping for insurance. At this stage, I don't think I need to set up an LLC, but I see a lot of people recommending getting an umbrella policy. I got a couple quotes that includes liability coverage. If the rental property insurance includes liability, is it also a good idea to get an umbrella policy as well? I do plan on purchasing more properties in the future, but not anytime soon.

It depends on what you're trying to protect. Your insurance agency should discuss these things with you but unfortunately many aren't properly trained or simply take orders rather than provide valuable advice...