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Updated over 5 years ago on . Most recent reply

User Stats

36
Posts
6
Votes
Reinhard Kurzen
  • Rental Property Investor
  • Seattle, WA
6
Votes |
36
Posts

Personal Umbrella Policy and an Apartment in an LLC?

Reinhard Kurzen
  • Rental Property Investor
  • Seattle, WA
Posted

Hello, 

I just purchased a 26 unit and its in an LLC. I have all of my other 6 units insured separately but also added to a personal umbrella policy. Can I also add the 26 unit to this personal umbrella policy or is this violating the authenticity of a separate LLC Entity/company? I do already have the property insured for the 26 unit building. The LLC is Washington State which is a common law state and the LLC is just my wife and I so technically it is a single member LLC by law. I am also thinking of starting a second umbrella policy for this property and future larger properties. Each property will be in its own LLC. Can I add multiple LLCs to one Umbrella Policy? Thanks!

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