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Updated almost 9 years ago on . Most recent reply

Mike Dymski's profile image
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Mike Dymski
  • #5 Investor Mindset Contributor
  • Investor
  • from Greenville, SC
  • Member since Mar 10, 2016
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Mike Dymski's profile image
Mike Dymski's profile image
Mike Dymski
  • #5 Investor Mindset Contributor
  • Investor
  • from Greenville, SC
  • Member since Mar 10, 2016
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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
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Insurance

landlord or commercial policy?

Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Posted

I am considering transferring 2 duplexes and a home into an LLC. My insurance agent said we would add the LLC to the existing landlord policies. I had another agent say that I will not want my name on the policy and he would put the property/LLC in a commercial policy. A commercial policy sounds more logical in preserving the corporate veil. What is best practice? Thanks in advance for the help. I have a 25 unit apartment complex in a separate LLC with a commercial policy, if that matters.

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