LLC to own Short Term rental

[Michael Cummins]

I know there have been many posts about this, but wasn't able to find this specific part addressed yet... 

If I'm buying an STR, and having it professionally managed, would the benefits of an LLC over good insurance be significant? I think if I was self managing, I would default to an LLC, but for this passive/hands off setup, is the protection that much more substantial?

I use LLCs for all my LTRs, and have a separate LLC that does the management for those properties, to separate out as much as I can for asset protection. But in the case of having it fully managed by others, with a STR policy that requires $1M liability anyway, plus the management company's insurance, wouldn't most liability fall to them first as they're contracted to keep the property in suitable condition, then I'd still have pretty hefty coverage if something went beyond that?

Just trying to see if its worth the hassle and costs of a NC LLC. My PA LLCs are much cheaper and easier to maintain, plus not needing an out of state registered agent, etc.

Thanks all!