Insuring Rental Properties Deeded into LLC's w/ conventional personal loans attached

[Veronica Solomon]

I have 6 rental properties & have been advised by an attorney group to open 6 separate LLC's . All the deeds will be transferred into the LLC's . This is causing absolute chaos for me now with my insurance company. They are saying these are now business/commercial properties so they need to be insured as such . This means an additional $200 per policy on top of what I already pay . Another issue is these homes have standard 15-30 year loans in my personal name ..... so that is another issue ! I have to insure them as "123 ABC, LLC additionally insured "me"". or EVERY loan company is saying "hey .... the insured does not match our records on your loan ."

I'm feeling seriously frustrated with opening up these LLC's & I have already paid an attorney to get everything ready to record these deeds . This feels like I have been advised to start an avalanche of yearly expenses , additional paperwork etc. ! ( I'm also getting advised to put them in land trusts on top of the LLC's now $$$ to avoid issues with my loan companies & having them in LLC 's

I feel EVERYWHERE you turn you hear never have rentals in your own name put them in an LLC

In retrospect , I am wondering why I would not have been petter off to keep them ALL in my personal name with 1 giant 5 million dollar umbrella policy for liability  ........ This just seems a ridiculous amount of money & a crazy complex amount of paperwork that I have regrettably signed up for ....

Any advice or experience in this area would be extremely helpful !

Thanks!