LLC vs Insurance

[Daniel Sterling]

I'm taking steps to buy my first rental property and I'm wondering if forming an LLC is worth it considering everything that I'd be protecting under the company would be protected with a good insurance policy. Accidents, damages, lawsuits, etc. would be covered by having proper insurance. If there is any problem making with mortgage payments (renters refusing to pay/evictions and extended vacancies), the lender will go after me personally, no matter if I have it under an LLC or not.

I can understand when I start increasing my portfolio to then incorporate an entity, but I don't see much of an advantage on my first try.