One could endorse a check to another party: "Pay to the order of _________" The same language is used when endorsing a promissory note.

To be clear: this is not an advertisement or endorsement for that company; only an example of a solution that I have found to work for me and my company under my circumstances; I would encourage you all to do your own research and, if you want to self manage, evaluate each company you find to see if it suits your needs. 

Please know that I won't endorse the deal or fund, even if I like it, as that might be a conflict of interest. 

There are countless other endorsements that you can elect on a case-by-case basis to suit your specific needs, potential exposures, and financial ability to take a hit without risking insolvency.As far as price, it will depend on coverage amount (building limit, liability coverage amount, etc), but make sure to understand any coinsurance provision before you attempt to minimize premium by reducing building limits.

Property Management Made Easy – You don't have to reinvent the wheel (pmmadeeasy.com) has ones you can buy and them customize.Never used them or looked at them, not an endorsement. 

Just sign up for a webinar and they almost always give a discount code to take some money off the fee (don't worry, I don't get paid to endorse BP or deal machine). 

One is the HUD FHA Lender List SearchThe other is the 203k Endorsement Summary ReportIf you want more info, let me know. 

GregoryYou normally need to add an endorsement to your homeowners for rental of the garage. 

I generally recommend adding the endorsement for Personal Injury Protection (libel, slander, wronful entry,...) to the policy.  

This way you control the coverage limits and endorsements that are in your favor.Secondly, an additional General Liability policy in the name of your holding company is carried for any claim that exceed the tenants policy limits or is not picked up by the tenants policy.