They say it has to be in my name to get insurance? But most people put it under llc to be protected?

The LLC prevents you from losing your personal property should something happen on the property, it does not prevent your necessity to have insurance. As the owner of the LLC you can get the insurance from any insurance company that issues those policies, I am not sure if Geico does, but All State or State Farm do.

4 Responses

1. Christopher L Says:
   June 22nd, 2009 at 3:03 am

   The LLC prevents you from losing your personal property should something happen on the property, it does not prevent your necessity to have insurance. As the owner of the LLC you can get the insurance from any insurance company that issues those policies, I am not sure if Geico does, but All State or State Farm do.
   References :

2. M1759 Says:
   June 22nd, 2009 at 3:25 am

   Check with an agency that does commercial insurance.

   Most personal lines companies (i.e. Geico, Allstate, State Farm, etc.) won't touch a property that is not under the name of an individual(s).
   References :

3. Roger C Says:
   June 22nd, 2009 at 3:36 am

   Try someone like State Farm – they write all contracts on rental property thru their commercial division (as opposed to regular home owner's through State Farm Mutual). I'm surprised GEICO can't handle this.
   References :

4. boston857 Says:
   June 22nd, 2009 at 3:54 am

   If you own the LLC 100%, it makes sense to put the policy in your name rather than the LLC. The LLC protection is not required in this case since you only need it to limit your personal liability in the event of a lawsuit agst the property.
   References :

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