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Marcos Carbi
  • Rental Property Investor
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Does my LLC. need a personal liability policy?

Marcos Carbi
  • Rental Property Investor
Posted Oct 10 2022, 12:17

Hey guys,

I'm in the process of closing on my second duplex and I honestly don't understand insurance as much as I'd like to. 

My situation: I'm closing on the property under my mom's and my name and then transferring the title into my LLC - I'm doing this to get a better mortgage rate/terms. Since the property will be under my LLC, the insurance company doesn't provide personal liability coverage on the home insurance policy. Therefore, I'm getting an additional personal liability policy for my LLC, with $300K in coverage.

I was wondering if this is the right thing to do, or if I should be doing something else. I did this with my first duplex as well.  

I appreciate your time and help!

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