I have a 1 million personal Umbrella that the condo is also under.  

In my experience in Florida I've found companies that have written policies in one zipcode and reached a limit but will write policies 2 miles away in another zipcode.If you find you need commercial insurance then seek, Commercial Property Insurance, Commercial General Liability Insurance, and if needed Commercial Umbrella Policy.

If the goal is risk mitigation, and your exposure isn't huge (maybe you have a property or two and are just starting out in life), some investors will go the insurance route and choose a large umbrella policy over forming one or more LLCs.

Other perks to coverage that you might consider: a package policy that covers your car insurance too (sometimes cheaper) and an umbrella policy for 1 million dollars to cover all sorts of things that could happen.

Beginning to lose hope in a blanket loan, umbrella loan, all encompassing loan, whatever you want to call it, with a rate anywhere close to prime. 

An umbrella policy as well as your assets grow is a great idea.  

(All I currently have is an umbrella policy for protection). 

Would we both need our own umbrella/insurance policies?

Then do that x1000.I was also curious about LLC vs umbrella policy.  

Actually just got an umbrella policy as well from them yesterday.