LLC and Insurance question

[Mark DiGioia]

Hello everyone ! 

I sent in the paperwork to form my LLC. My question is regarding the insurance on the property. What type of insurance are you putting on your (in my case) Two Family -do I need an umbrella policy ? I do have a good amount of personal assets I need to make sure I am protected

Also, sneaking in a second question. My first deal is by mean of convential financing (20% down) I have read that a bank may flown upon having the loan in the name of the LLC even with a PG -thanks

[Mike Mosee]

Buy the property under your name & put in into a land trust. Then move the land trust into your LLC. This avoids the due on sale clause as land trusts are not recorded. On the insurance issue you list your LLC as an additional insured on the policy.