PLEASE HELP! - Creative Subjecto Insurance

[Gio Kattan]

Hello community!

I would greatly appreciate your input on this matter.

Here is my setup

Purchased property under a Trust

LLC in FL owns the Trust

Holding company LLC in WY owns LLC in FL

I purchased the property sub-to, took over the seller's mortgage and I’m working on setting up insurance for the property.

I understand I need to keep the seller as additionally insured in my insurance, but the seller no longer has "interest" (ownership) either in the Trust, nor any of the LLCs nor in the Deed nor Settlement Statement. So my insurance broker says he cannot be added.

My attorney advises I should maintain the previous insurance plus setup a new one under the LLC in FL who is the beneficiary of the Trust and then to add the Trust as additionally insured.

But i would like to avoid double paying for insurance.

Will you guys please advise on how to go about doing this?

The property will be used as short term rental, I know this is what makes it tricky.

Thank you!

Gio K