Pros/Cons to converting primary/secondary homes to LLC for long/short term rentals

[Kate Mesquita]

Seeking insight from anyone who has converted their home(s) into an LLC for short- or long-term rentals versus simply extending an umbrella insurance policy. Our primary goal is liability protection; potential tax benefits are a secondary consideration. Would appreciate hearing about your experience or recommendations. Homes are in Suffolk County, LI, NY. Thanks!