How About Having an Umbrella Policy as Opposed to LLC or C-Corp?? - Posted by Sparky

Real Estate Investing
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Posted by KennS on July 29, 2000 at 11:46:00:

I suggest a personal 1m umbrella policy on top of the LLC / C-Corp. It is not a replacement.
In fact, earlier in this newsgroup Bronchick listed 10 things that insurance would not cover. I suggest doing a word search for “bronchick” and finding that post. If it is not in this one, it should be in a recent archive.

  • Kenn
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How About Having an Umbrella Policy as Opposed to LLC or C-Corp?? - Posted by Sparky

Posted by Sparky on July 29, 2000 at 09:04:59:

I’m debating whether to buy an umbrella insurance policy for $1 million of coverage or to form an LLC / C-Corp. The umbrella policy would insure me for any reason if someone were to sue me and I have a feeling that I’d be paying less taxes than a LLC or C-Corp. Thoughts??

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Against the grain but… - Posted by Mark (SDCA)

Posted by Mark (SDCA) on July 31, 2000 at 11:03:27:

I think it depends on where you are in your investing career. The more you have, the more protection you need. If you have just one rental house, I would just get insurance. If you have a string of apartment complexes, I would opt for an LLC.

Regards,

Mark

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Bronchick’s Post - Posted by Jim Kennedy - Houston, TX

Posted by Jim Kennedy - Houston, TX on July 29, 2000 at 14:39:39:

Bronchick’s post is entitled “7 liabilities insurance won’t cover . . .” and is located at:

http://www.creonline.com/wwwboard/messages/82242.html

Hope this helps.

Best of Success!!

Jim Kennedy,
Houston, TX

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Re: How About Having an Umbrella Policy as Opposed to LLC or C-Corp?? - Posted by dewCo

Posted by dewCo on July 29, 2000 at 14:04:15:

Kenn is right, Bronchick just did a post on the fact that liability insurance is not SUBSTITUTE for the property business enitity. You need it an addition to. Scroll u from the bottom of these posts it might still be there.