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Updated over 4 years ago,
Name Insured vs Additional Insured Question
I have deeded a property to an LLC so LLC is sole owner in the deed but mortgage is still in my name. Planning to rent the property out.
Who should be the ->
1. Name Insured?
2. Additional Insured?
3. What all are the different policies I should take for the llc and myself for property/liability coverage?
Any insights would be helpful. Brokers are giving me different recommendations - some saying title owner needs to be the name insured. Few others are saying mortgage owner needs to be named insured and otherwise the bank won't agree.