Legal Question in Real Estate Law in California

Does liability insurance usually cover what a single member llc protects against?

I have a few properties that are free and clear. From what i understand is that a single member LLC does not protect your personal assets from a negligence suit and that liability insurance doesn't cover for a negligence suit. So my question is if I don't have much assets besides the real estate, would it make sense to get umbrella insurance for the amount of my real estate assets and have title in my name as opposed to vesting my properties in an LLC? What would be the advantages of vesting my properties in an LLC in this situation. Thank you very much in advance. Sean


Asked on 4/30/13, 9:20 pm

1 Answer from Attorneys
Anthony Roach Law Office of Anthony A. Roach

Liability insurance usually does cover negligence. It does not cover trade debts or intentional acts or criminal acts. Depending on the policy, it may exclude certain things, but those exclusions are always spelled out in the riders, and if you want specific coverage for an event, you can request it.

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Answered on 7/18/13, 6:44 pm


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