Newark, NJ · Member since 2017 · 20 posts · 6 votes
Hey guys. We are in the process of doing a cash out refi on our investment property. I'm having a bit of an issue with getting the right insurance. We have to get a landlord policy which is fine but the policy must be under our LLC and not my personal name which is also fine. However as I'm trying to search for companies, I do not know if I should be searching for commercial homeowner landlord policies or if I should be looking for regular landlord policies and request its in the name of the LLC.
@Gerald Koonce Looking for regular landlord policies is the right way to go. Here is a quick read that will help you save some money during the process.
Many Personal Insurance Carriers will write the Landlord (aka Dwelling Fire policy) in the name of an LLC. They may want to know if it owns or operates other businesses. You can also get a commercial policy but they generally cost more