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Kelly Clauson
  • Investor
  • Brighton, CO
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Does insurance need to be in the LLC's name?

Kelly Clauson
  • Investor
  • Brighton, CO
Posted

I have a house that I previously lived in but I've been renting it for the past 8+ years. When I converted the house to a rental property, I setup an LLC (I'm the sole owner) and transferred the deed to the LLC. I don't remember if I did a Quit Claim or another means of transfer. I thought I have been covered all this time but after explaining this to a friend, she tells me I could still be personally liable because the insurance covering the house is still in my name, not the LLC. Did I leave a hole here?

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