Rent loss coverage insurance

[Mike Vu]

Buying a fourplex and closing in 2 weeks. My questions how much rent coverage should my policy have? 100% of rent income? 50% rent income?

On another note how much liability do you recommend? 300,000? 1 million? Property is held under an LLC. Or better to have only $100k liability and have a separate umbrella policy?

Thank you.