Business liability coverage for an LLC

[La T.]

Hello,

Can someone share information on Business liability coverage for an LLC created to hold investment properties?

Does the insurance need a 'person' on the policy or can the policy be in the name of the LLC?

Is there a limit on the number of properties an LLC can contain? Can I just keep increasing the liability coverage if I purchase more properties?

Thanks.

LaTha

[Derek Lacy]

You can place as many LLC's and/or properties on a general liability policy as you see fit. We have an institutional investor with over 10,000 properties and about 100 named insureds all on the same policy.

Now, I highly disagree with the one llc per property, it never achieves what it is intended to do, because if you have 100 properties with 100 llcs, that means 100 meetings with mintues, 100 tax returns, 100 other issues.  If you only plan on buying 4 properties, it might work, but it still seems your 4x's your problems for little in return of actual protection.

We can help with your issue at my office, but just happy to help with your understanding.