by Guest » Wed May 11, 2011 11:16 pm
I bought a condo for rental purpose and had the deed titled under my LLC name - which is just the simple husband & wife kind.
One insurer can sell me a standalone landlord policy on this condo with our personal names and LLC name. (I cannot get them to write the policy for only the LLC name).
However, my home/auto/umbrella policies are under our personal names with a different insurer. With this setup, I'm wondering when my condo's liability fund is inadequate in a claim, would the umbrella policy from a diff insurer kicks in?
Thanks for your help!
One insurer can sell me a standalone landlord policy on this condo with our personal names and LLC name. (I cannot get them to write the policy for only the LLC name).
However, my home/auto/umbrella policies are under our personal names with a different insurer. With this setup, I'm wondering when my condo's liability fund is inadequate in a claim, would the umbrella policy from a diff insurer kicks in?
Thanks for your help!
Posted: Thu May 12, 2011 07:17 am Post Subject:
I don't think this condo will be covered under your personal insurance unless it's listed under such coverage.
I guess it has a lot to do with the nature of the umbrella policy that you've chosen. Go through the papers and you'll see what's in and what's out. In the end, you may consult with your agent regarding this. Also, keep us fed in this regard.
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