Dwelling Fire

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Who would you recommend for a dwelling in the name of an LLC. Also the owner is from out of the country.
 
Depends...

what state is the dwelling, what type of dwelling? how many units, is it owner occupied ?
 
Also, I assume the owner is the LLC? I assume the LLC is in a State, not out of the country?

You'll have to write it as a commercial lines policy. Now, you'll have to start with what state, type of dwelling, reconstruction costs, etc, to get much advice.

Dan
 
In CA, First American will write a dwelling fire in the name of an LLC
 
Also, I assume the owner is the LLC? I assume the LLC is in a State, not out of the country?

You'll have to write it as a commercial lines policy. Now, you'll have to start with what state, type of dwelling, reconstruction costs, etc, to get much advice.

Dan

Dan, All of our personal lines carriers will write this. If its owner occupied they can include liability (same thing we do with a trust), tenant occupied X-Liability, and can pick up the liability on a standalone policy.
 
I'm confused.

An LLC is an entity. By default, a property belonging to an LLC cannot be owner occupied. I get the intent here, and the carriers may allow it to be called owner occupied, but technically, it is not.

I don't have any carriers (never tried First American, not really available in my area) that will allow a personal lines policy to be had by an LLC. I can get a trust through, not an LLC. It is not 'personal' when it is by nature of it being an LLC, a commercial situation.
 
I'm confused.

An LLC is an entity. By default, a property belonging to an LLC cannot be owner occupied. I get the intent here, and the carriers may allow it to be called owner occupied, but technically, it is not.

I don't have any carriers (never tried First American, not really available in my area) that will allow a personal lines policy to be had by an LLC. I can get a trust through, not an LLC. It is not 'personal' when it is by nature of it being an LLC, a commercial situation.


Dan,
I think they are confusing a LLC and a trust......2 seperate things and 2 seperate policies
 
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