title and Insurance

title and Insurance

I know better than to ask for legal advice from anyone other than a lawyer, but I was curious as to how most of the investors here who own rental properties hold title to your properties and what kind of insurance you carry. Some investors and attorneys suggest taking title in an LLC to protect your personal assets. Others say to keep everything in your name because it is so easy to pierce the "corporate veil" that there really isn't much protection. They suggest taking out umbrella policies for $1 Million or $2 Million in addition to regular homeowners policies because very rarely would a tenant sue for over $1 million in damages.

Again, I am not looking for legal advice. I've asked 3 lawyers that I work with and got 3 different answers. I ask my investor friends and most of them suggest keeping everything in my name and going the umbrella route.

What are your thoughts on the subject?


Live well, laugh often and love much.

Walter Fabiszewski
Southern, FL

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