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Some insurers will actually offer umbrella insurance as an add-on to your landlord insurance. Standard landlord insurance covers property damage and liability up to a certain limit. You can then stack on a landlord-specific umbrella policy to raise these limits. This is a smart move if you run multiple rentals under a business entity. If you are a landlord, you likely have a substantial amount of assets you want to protect. The higher your net worth, the more someone can sue you for in the case of a liability accident. In such a litigious society, that means one trip or slip on your rental property could cause you to lose the entire building—if not even more of your personal assets.