Liability/Insurance Question

[Zachary Miller]

Hey BP. I am looking at a duplex for my first home (to start by house hacking). Is there a primer anywhere on how to properly limit my liability or how to make sure that I have adequate insurance as a landlord? 

From what I have read, I think that an LLC would not be a good choice for my situation. I think that I should probably get homeowners insurance and umbrella liability. Am I missing anything or completely on the wrong track with this? Thanks!

[Rob Beland]

Stay away from an LLC @Zachary Miller. That can wait until you start investing with a partner. What you need is a standard landlord policy which offers the same coverage as a homeowners but costs a little more. You can even bump up your limits for short money and going with a $2500 deductible will save you money. Add a $1M liability policy as well. You'll be good to go. At this level I think even the Umbrella policy is overkill. Talk to a couple insurance agents in your area for advice.