For a rental owned by LLC, who is the insured?

[Edwin Batte]

Who's the insured on these policies — the entity (LLC) or the manager (really, owner of property) OR both?

Policies exclusively naming the entity (LLC) are rear and expensive! What's the upside, anyway?

Those where both the entity & the entity manager (usually the true owner of the protected assets) are plenty & cheaper. What’s the downside to having both as the insured?

What do most investors do? 
Yes, I’m a newbie !!!

Thank you for your help in advance.

[Casey J Burkhead]

Hey Edwin,

The main reason investors use an LLC is to protect their personal assets. So I typically advise my clients to purchase a policy solely in the LLC name when applicable. Otherwise, your personal name is listed on the policy and leaves an opening for the LLC protection to be pierced. The LLC is the named insured in this case. As you mentioned, you can purchase a policy under your personal name and have the LLC listed as an additional insured. You would both be named insureds in this case. If you are finding it to be more expensive to purchase a policy solely in the LLC name, I would say keep shopping. Find an independent agent that has multiple options in the whatever state your property is located. I work with a regional carrier that offers very competitive prices for investors in our tri-state area and only requires the LLC name to be listed.

- Casey