Check with your attorney to see if leaving your name on the homeowners will work to defeat the reason for going to the LLC (to protect your assets).Some Insurance carriers will not do a personal policy on an LLC (not that many but still some).

If you have an agent tell you that you don't need anything other than your homeowners policy make sure to have them put that in writing so that you have some recourse when the carrier denies the claim.  

Keep in mind that your insurance premium will also most likely increase if you provide your insurance broker or carrier with updated loss runs that reflect this claim, so you'll want to include a further reduction to reflect that.5.

I agree with the others and doubt the insurance carrier will pay out for those damages. 

You may find one carrier that will combine them but not likely. 

Your more mainstream carriers will all decline the property due to the current vacancy rate. 

Hi everyone,I work for a new insurance carrier that primarily targets landlords and real estate investors.We often get asked about the difference between DP3 and what we sell which is a commercial line policy.

I'm evaluating adding umbrella insurance with an identified carrier in the future should my risk profile or life circumstances change.

My first two portfolios I used my normal "buy and hold" guy and we ran into hiccups with every carrier, then we switched to a commercial insurance policy and it has been blissfully light!

It takes experience speaking the greek like insurace co language to tweek an actual cash value quote to work for both the carrier AND the lender.