Umbrella policy vs. Renter's Insurance vs. Landlord Insurance
I've been househacking for about 2 years, and have recently rented out all the units of my property in L.A. Since I won't be at the property any longer and plan to get a few more units in the next couple of months, I've been looking into getting an umbrella policy for some extra peace of mind.
I contacted my insurance broker who said that since I don't have a primary residence any longer, the umbrella policy I'd need to buy would be "renter's insurance," which like a regular umbrella, can provide $1m in personal liability protection.
I'm not sure my broker is laying out all my options. Is it true that I cannot buy an umbrella policy if I'm renting, but own a property that I'm renting out completely? I also heard that there's such thing as Landlord's Insurance. From the perspective of a landlord, what is the difference between an umbrella policy, renter's insurance, and landlord insurance?
Thank you all for the help!