Home insurance companies ?

[John Lach]

Hello,

We are looking to purchase a SFR in Round Rock area and it will be deeded in the name of the LLC we have setup. Need your help to see if the following quote Im getting is reasonable or are there other agents/insurance companies you will recommend that are best work with SFRs.

Im have an insurance agent who is quoting me $800/yr for the following coverage:

- 200k fire and other perils

- 300k personal liability (Is this even necessary if we are are registering the house in the name of the LLC?)

- 25k medical

- 35k fair rental value

- 20k other structures

- 2000 deductible

are these the right coverage items/values?

am Im missing anything?

Talking with the agent doesnt give me confidence that their group have experience with SFR, so if you have any recommendation I would greatly appreciate.

thank you,

John.

[Jason Bott]

@John Lach You need liability unless you are just going to write checks from the LLC bank account for Slip and fall claims. If you don't pay them, then you just get the equity in the LLC applied towards the claim.

I don't have the right legal terminology, but the idea is the Liability policy is there to protect the LLC.