Multiple LLC's + liability insurance - Posted by Mark(CO)

Posted by JHyre in Ohio on February 12, 2002 at 06:19:05:

That’s it…multiple LLCs can provide firewalls if the insurance isn’t enough to cover a liability arising in one of the LLCs.

John Hyre

Multiple LLC’s + liability insurance - Posted by Mark(CO)

Posted by Mark(CO) on February 11, 2002 at 11:55:53:

Currently we have all our properties insured and in one LLC. Why have multiple LLC’s? Why not increase our insurance?
Thanks

Re: Multiple LLC’s + liability insurance - Posted by Jeff M

Posted by Jeff M on February 11, 2002 at 14:58:03:

I’m no expert, but if you get sued for one property, can’t they go after all of the properties in the LLC? Also, If you should default on one property, can’t the lender at least attempt to go after the other properties? I’m no expert, this is just my understanding. Someone please correct me if I am wrong. Thanks.
Jeff M