Options for LLC owned suburban Chicago Condo

[Bernard Davis]

Hello everyone. I ( my LLC that is co-owned 50-50 by my wife and myself) am the new owner of a 2br 1.5 bath 1000 sq. ft. condo that is rented. I believe that because it's owned by the LLC I need a commercial policy, can anyone confirm this point?

Also any leads on good options for the type of policy I need or any idea year, how much I should expect to pay?

I currently have 1 quote from American Family who we use for our personal home and cars, but I'm having problems finding another carrier who will issue a policy for LLC.

Thanks

[John Warren]

@Bernard Davis you eventually will want to connect with an insurance broker who can write policies from multiple different carriers. I can PM you the guy I use if you want someone. In this case, you should be ok with a regular policy for a condo since the association likely has a policy as well that covers everything on the outside of the condo walls. It is relatively cheap to insure a condo normally.