Mortgage Company Requiring Insurance in Personal Name

[Will Chitwood]

We own all our properties in LLCs with mortgages in our personal names as we switched them to the LLC after purchase. We never had problems with mortgage companies accepting the insurance in our LLC names until this year. 2 of them sent letters saying we have to have the insurance in our personal names which opens us up to liability exposure. We could have us as primary on the policy with the LLC as additionally insured but I don't like the exposure that gives us. Is anyone else having this happen and are there any solutions or workarounds other than refinancing at higher interest rates to a commercial loan or paying the property off?