Rental Property LLC

[Deborah Mota]

Our current commercial home owner's insurance has cancelled our existing policy on our property in California siting fire risk. We are not able to find insurance and are considering dissolving the LLC. Does anyone have a better solution? We have not had this come up before. Any help is appreciated.

[G. Brian Davis]

You could work with a broker who specializes in high-risk properties or look at surplus lines carriers that insure wildfire-prone areas in California. Implementing mitigation measures like defensible space, fire-resistant landscaping, or sprinklers can improve insurability. Additionally, the California FAIR Plan can provide temporary coverage while you secure a traditional policy.