LLC Endorsement for Your Home.

 LLC Endorsement for Your Home👀.

             My home is deeded through an LLC and I can't find anyone to insure it since it is now considered a business property! A standard homeowners policy covers a person, not a business. And I can't get a business policy since I don't actually run a business from my home. 

In Today's World,

       With the ever-increasing number of lawsuits and large settlements in today's world, people are placing their homes in the name of an LLC for many reasons. 

An LLC can, 

       * Protect personal assets 

       * Like saving 

       * Retirement accounts from potential creditors or claimants. 

       * Quickly settle an estate and avoid the unnecessary time and expense of probate court.  

       * Become a helpful planning tool when passing the property on to beneficiaries.  

       * Reduce estate taxes by removing the property from the owner's estate.

           However, without proper insurance coverage for the LLC, you may end up paying out of pocket if someone sues you for an accident or injury that happens on the property. And what if your home is destroyed? If you are not properly insured, could you afford to rebuild it after a total loss? 

           So how can you protect yourself, and your LLC-named home? 

           With Central of course! Central offers a unique solution for LLC named homes that protect both the LLC and the LLC managers and members.  

           This coverage option can easily be added to your Homeowner's and Personal Umbrella policies! 

           Our limited Liability Company endorsement provides the LLC and its managers and members, with coverage for the Dwelling as well as other structures located on the property such as a fence, gazebo, detached garage, or shed. It also offers coverage for Personal Liability and Medical Payments to Others, should the LLC or its managers or members be found liable for an accident on the property. 

Endorsement Eligibility.

           To be eligible for the endorsement, the LLC must meet certain criteria:   

                * The LLC must be the sole owner of the dwelling which is used exclusively for private residential purposes. 

                * Does not conduct business activities other than occasionally renting the dwelling to others. 

                * The LLC is comprised of managers and members who are actual people. 

                * Not trust, corporations, or another LLC. 

                * The LLC was created purely for estate planning purposes or as a tax shelter. 

Secondary Homes. 

        Secondary homes are often titled LLC when multiple family members are making up the LLC managers and members. Central's LLC endorsement can be used to cover lake or vacation properties owned by multi-family LLCs, provided Central writs the homeowners or personal umbrella coverages for all families who are members of the LLC.         

Find the Right Insurance.

        It is extremely important to properly insure a home owned by an LLC! To find the right insurance that fits your unique situation talk to your independent agent so they can provide you with the best, most complete protection possible.