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Business

Do You Need Umbrella Insurance or an LLC? (Bonus)

podcast January 7, 2021


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A question I get all the time: Should I start with an umbrella policy or an LLC? I wanted to ask Jeremy Goodrich, one of the principals of Shine Insurance his expert advice.

 

Two different ways to do the same exact thing:

  • LLC is a key piece when you are investing in more than 5 units
  • Umbrella insurance is additional liability insurance 
  • If you have a large portfolio, umbrella insurance would add millions of coverage
  • How to balance the LLC structure and umbrella coverage
  • The biggest mistake real estate investors make when it comes to insurance
  • Why you need an umbrella policy over your LLC
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