Title under LLC and mortgage under personal - Liability?

[Account Closed]

I'm interested in learning how to best mitigate risk and purchase insurance to protect the following investment strategy:

• - Conventional loan in personal name
• - Upon closing, quick deeding title to from personal to a LLC as a partnership (you + one other person)

From my understanding, you need to have your insurance in your personal name and an have the LLC listed as a co-policy holder. Does this adequately protect the individuals in the LLC or does this pierce the corporate veil?

In general, I understand why people use conventional loans then quick deed into a partnership, but I'm struggling to figure out how liability risk plays into this. Any advice or feedback?