Insurance under Commercial policy or Personal??

[AL Blanchard]

Closing on our first condo. Our LLC will own the property. The exterior is covered under monthly HOA dues. We have a quote for a Commercial interior policy. The amount is 600 under the Commercial policy. It goes up to 1,500 once liability is added. We were given quotes with the property under our names. Interior coverage under a personal policy is $450. We are new to this and unsure if we should have the insurance under our personal name. The rates are lower under a personal policy but does this make us less protected? Also the liability more then doubles the rate. Do you have liability insurance on your properties?

[Jason Bott]

@AL Blanchard 100% under the LLC.

The quotes seem excessive for a condo policy.  

You can find Liability for $100-$200 per year for $1M.

Interior property coverage is driven by the amount of coverage, so can't gauge if it is high or low until that is known.