Skip to content
General Real Estate Investing

User Stats

79
Posts
10
Votes
Joe Salimao
  • Real Estate Investor
  • Blackwood, NJ
10
Votes |
79
Posts

LLC's vs Umbrella Policy

Joe Salimao
  • Real Estate Investor
  • Blackwood, NJ
Posted Apr 20 2009, 07:53

Hi guys,
I know it has been asked in many different ways before but I am looking for a more specific answer. My question is: Why have an LLC when you can just get an umbrella policy for 'x' million dollars on your properties. What will the LLC do for you that the insurance policy won't?
Let me just say I have an LLC and I think they are the way to go. My attorney, accountant and bascially every investor I have talked to said they are the way to go but I recently had a group of investors say that an insurance policy is good enough and the LLC isn't worth the hassle.
After thinking about it I am not so sure there is an advantage over the umbrella policy. What are your thoughts?
Joe Salimao

Loading replies...