Hello everyone! I’m a few days old on BP. Definitely a newbie!!! I’m excited to be here!
I'll be closing on a SFR soon in Abilene TX. Does anyone know any of agency that covers rentals owned by LLC in TX?
Thank you in advance!
@Edwin Batte congrats on the closing soon on your rental. I strongly recommend you reach out to @Mark Roland with Foursquare Insurance for landlord insurance on your LLC owned rentals here in the state of Texas. He insures all my rentals for many years now and does a great job for me. You will be very pleased with his rates and customer service.
@Edwin Batte I'm an independent agent in Abilene as well as a real estate investor. We can definitely help you out with that and an LLC isn't a problem. 325-733-1333 and Kellye can get you fixed up!
Congrats! Contact John Weeks at Weeks Hunter Insurance in Abilene. He provides insurance on all our SFR in Abilene.
Who's the insured on these policies — the entity (LLC) or the manager (really, owner of property) OR both?
@Edwin Batte it depends with our carriers. Most of them are written on a "personal" policy to where it's in your name and then we name the LLC as an additional named insured in the policy to protect the LLC for liability as well as the property. The banks are fine with it being done this way. On folks that have a large schedule of rentals we have to do a commercial policy under the LLC as most personal carriers only allow a certain amount of rentals. Hope that helps! Thanks
@Nathan Hathorn , yes it is helpful. Thank you. Some are of the view that only the LLC should be named as the insured in order to maintain protection rendered by the entity. Cost vs protection ….