LLC vs Insurance - Posted by Jimmy

import · February 10, 2004, 7:52am

Posted by Carl on February 10, 2004 at 15:32:44:

All of my policies are with Allied. I don’t think they write policies in Oklahoma, but a liability umbrella is pretty common coverage. Call several of your local agents.

import · February 10, 2004, 7:52am

Posted by Jimmy on February 10, 2004 at 08:52:46:

If I have a million-dollar insurance coverage on a property and my tenant knows that I own it, should I put the property in an LLC.

import · February 10, 2004, 11:36am

Re: LLC vs Insurance - Posted by Carl

Posted by Carl on February 10, 2004 at 12:36:47:

I would like to echo Jimmy’s question. My wife and I own several rental homes, holding title jointly. Our $1MM umbrella policy costs us $160/yr, where the MINIMUM annual tax on a California LLC is nearing $1000/yr, not to mention the startup costs. We could purchase $5MM in insurance coverage for less. Why would it pay to start an LLC?

import · February 10, 2004, 1:58pm

Re: LLC vs Insurance - Posted by ted bowen(OK)

Posted by ted bowen(OK) on February 10, 2004 at 14:58:57:

I have been looking for this type of policy, who is yours liability policy with??