Today, I have a personal lines umbrella policy for myself. If I start a new LLC, do I need to take separate commercial umbrella policy? Or is it possible to add LLC in the personal umbrella policy itself?
Yes, you should need another umbrella policy. Your personal umbrella policy should only cover assets/policies in your name. The LLC is a separate legal entity and should be treated as one to maintain its corporate veil. It will need its own policy should you desire one. Good luck.
Yes, you should need another umbrella policy. Your personal umbrella policy should only cover assets/policies in your name. The LLC is a separate legal entity and should be treated as one to maintain its corporate veil. It will need its own policy should you desire one. Good luck.