Personal Property to LLC to ALL INSURED

[Theodore B.]

Hello Bigger Pocket community,

I am an investor in the Detroit, MI area. I have 13 properties, 11 in Detroit, 1 in GA and 1 in AZ, The 11 in Detroit are free and clear and the other two have mortgages. Right now they are all in my name except one and I just formed my LLC. I am looking to place the ones in my name in the LLC, but not sure about the one with the mortgage????

Anyways, once in the LLC, I am looking to get an umbrella policy for the LLC, however from what I have read an umbrella policy kicks in when the regular insurance runs out. Of my 11 properties I only have insurance on maybe half. Once properties are in the LLC, will I have insurance on them all at this point?

Basically just looking for some guidance on how to be protected and not spend a boat load of money.

Thanks for the feedback community.