Liability Insurance/LLC vs Self owned

[David Paul]

Hey BP!

So I've been getting insurance quotes for a property I am purchasing to rent out. I was going to buy the property under a LLC, however my insurance provider stated that I would need to get a SEPARATE policy for personal liability under an LLC. This brought the price up significantly and cut my margins. So now I am considering closing under my personal name but the insurance lady stated that the maximum personal liability coverage is 300k without buying an additional umbrella policy for additional personal liability. I want to make sure I am making the right choice and hedging risk, but I am also concerned about how much is too much insurance and protection when it comes to cutting into profit margin.