The reason for the umbrella policy is the business - it increases my net worth (so I'm a better lawsuit target) and it increases my liability (tenants, contractors, the neighbor who walked by and slipped on the ice).
Is it a business expense, or partly a business expense? Can I pay for it from my business account, write it off and call it a day?
Thanks in advance!
Yes. I add to my end of year Schedule-E as a rental/ business-related expense. It's a normal expense associated with landlording.