Account Closed
Personal umbrella policy needed when homes are owned by LLC?
Hello, I've searched the forums for this question but haven't seen it specifically asked. Right now I am a 25% partner in an LLC that currently owns eight rental SFRs. We have a $1M liability policy on each individu...
David C.
Any lawsuit stories where umbrella helped?
I’m deciding whether or not to get an umbrella policy (property is already in LLC) and will likely get one - but was wondering if anyone had any personal stories where something happened and the umbrella was needed an...
Sam Mathew
Legal - LLC vs Trust vs Personal Umbrella Coverage
Hello Bigger Pocket Members, I request your advice from experienced folks. I live in Florida but I have 12 rentals up in Michigan. They are all currently in my personal name.I was considering putting even a $2M umbre...
Chau Nhan
Investment Property in LLC or Umbrella Insurance Policy?
Hello!Thanks in advance for engaging in my question. I'm in the process of hunting for my first deal in Houston, Texas. Which do you think is better or the pros/cons to protect my personal assets outside of the invest...
George Chung
Is my CPA charging too much for filing Umbrella LLC?
Hello Guys,I have an umbrella LLC in neveda and I have 9 properties total that is included in this LLC. My CPA just billed me for $4650 for Tax preparation for management LLC. Isn’t this too much?Thank you in advanced...
Aubrey P.
Critique my landlord insurance policy please
I purchased a 2 bedroom condo in the DC area (U Street area) and am now using it as a rental. The condo is 1000 sqft. Should I get an extra umbrella policy up to 1 or 3 million? Please let me know if there is anything...
Lucien Pruszynski
Refinancing a rental in an LLC
Hello,
I've run into an issue for the first time in my career. My wife and I are 100% members of an LLC which owns a 3 unit rental property. We purchased the property 6 plus years ago with a loan that remained fixed ...
David Velazquez
Rental Insurance
Hello All,I have 7 rental properties, most of them are free and clear, I have a liability umbrella policy for all of them, last year I got insurance to cover the interior in case of a fire or anything that may happen ...
Account Closed
Insurance guidelines for NYC reno
Hi BP.I am considering renovating my coop in NYC. My coop board gave me insurance guidelines which had requirements for umbrella insurance in addition to general liability. I expected general liability, as I've had to...
William J Mcmillen
LLC for my first property?
Currently in the process of purchasing my first rental property, I'm hung up on making a decision on putting it under a LLC or not.. Seeking advice, what you guys think?