Insurance or LLC?
In Podcast # 109, Scott talked about the limitation of insurance policies. Basically, from what I understood, the interest of your insurance company does not necessarily align with the landlord's. So when a claim is filed, the insurance company will look for ways to not cover the expenses. So... I've cut a few corners like leasing out my primary residence and subletting... I'm afraid my current insurance policy will not cover me if anything happens. Then should I creating an LLC to protect my other assets? LLC is expensive in California, so I'm going back and forth between getting additional coverage or an LLC... Any advice?