I have a dozen of condos for which HOA master policy covers the basic structures, betterments, and fixtures. Currently I have HO6 costing about $140~200 for each unit, on top of that I have a personal umbrella. I am thinking about replacing the HO6 with premise liability only policy, on top of that add a commercial umbrella. From liability protection perspective, I should achieve the same liability protection, right?

I know without HO6, I will lose some coverages like personal property, loss of rent, etc. But by saving about $2000 per year on insurance, I can self-insure the other coverages.

What do you think? Thanks in advance.