Insurance for propety under LLC

[Lenin Belangonda]

Hi, 

I have rental property that I moved to LLC. My insurance company cancelled the policy as they dont insure properties under LLC. There seem to be not lot of companies that does cover LLCs. My insurance agent found something but it cost more than double what I paid for when its under my name. My insurance agent suggested it would be better to move the property back to my name and get coverage for higher amount.

Is my agent right? is it better to purchase a policy with good coverage than having it under LLC? I have gone thro some of the discussions in this topic but I cant fully understand which is better. If there is no distinct advantage with LLC, particularly for one rental property, is it worth going thro all the pain?

Thanks for your advice