Landlord Insurance Recommendations

[Misty Monk]

I am buying my first rental property and looking at just getting an insurance policy versus setting up an llc. Once I can figure out how to move the mortgage to my LLC without triggering the due on sale clause i will create the llc , and keep the insurance. To get started this seems to be the easiest.

[Terrell Garren]

My rule of thumb for what its worth.

If net wealth < $1M then $2M umbrella policy only

If net wealth >$1M then $2M umbrella policy plus LLC

Best, Terrell