Liability Insurance

I own 3 duplexes in FL (side by side) they are in 1 LLC. Currently My insurance company says I have to have a liability policy per building. Shouldn’t I be able to get a single 1mil Policy for LLC? They are charging $330 per building for about 1k a year just for Liability.

Any suggestions welcome.

$330 for $1,000 in liability insurance? I have to believe you mistyped that. It wouldn’t be worth it to put up $330 for $1000 in insurance. If that’s really true, call another insurance company.

I have a fire policy on each property. Maybe $300-$400 for $75,000-$100,000 in insurance. Then I have a blanket liability policy that covers all of the properties. This is through Shelter.


per property

All my rentals have a seperate liability that is billed per unit. $45.00 for $1,000,000 liability.

You need to talk to a different insurance company/broker. Commercial P&C policies include liability coverage, though they differ in limits. We carry an umbrella liability policy in addition to the amount included.

I have to wonder if the request is coming from the lender, rather than the insurer? Just sounds like an underwriter or account officer ticking off a box on a form.

Be aware that with insurance you get what you pay for. The lowest bidder is low for a reason.