Some investors decide the way they will go about it is to keep the existing Homeowners insurance in place and be added as additional insured to that policy.This is a dangerous game you should avoid and here is a reason why.If it is discovered that the ex- owner, the first-named insured in this case, no longer owns the property, expect the insurer to deny any claim based upon the fact the policyholder no longer owns the property.

I'd suggest you forget about all this super duper business structure stuff, save your money and buy a larger insurance liability policy. Hold

I've RARELY seen that happen in cases like this; especially since I'm more than certain that the driver of the vehicle will also be represented by his company's attorney(s) too.What a lot of people may not realize is that while the insurance company has a responsibility to their policyholder to handle their claims, they also want to ensure (generally) that the claim is completely settled and that the claimants can not pursue their policyholder for deficiencies (hence them getting releases signed).

In their policy it says that if Citizens does not have sufficient financial resources to meet the obligations after a major hurricane all Citizens policy holders will be required to pay additional surcharges and assessments over and above their policy premium which could exceed 45% of the annual premium. 

Basic and Broad forms put the "burden of proof" on the policyholder in regards to the cause of damage/loss.

However, since Olympus is a local Florida provider, what happens if a major storm hits Florida & wipes out enough of its policyholders that the company is no longer solvent.

In Florida, policyholders have three years to file a claim related to a named storm.

Insurance rates are being driven through the roof due to too many false claims about roofs, causing other policy holders to pay the price.

That said, really talk to your agent about your policy and then also look online for reviews about how well the company you have done payout when things went south for policyholders. 

The policyholder must pay the fee no matter the outcome.