by josefmoore » Mon Jan 28, 2013 08:51 pm
sorry if this a duplicate - I'm new and just figuring things out.
We have reorganized a family summer home shared by generations of family into an LLC. We knew going in that the insurance industry has been slow to adapt to this form of ownership (designed to avoid the problems associated with joint tenancy once "mom and dad pass"). We were unprepared to find no agent in Minnesota that is familiar with this concept much less who had written such a policy.
I'm wondering if there is anyone out there who can enlighten or re- educate me on this issue
We have reorganized a family summer home shared by generations of family into an LLC. We knew going in that the insurance industry has been slow to adapt to this form of ownership (designed to avoid the problems associated with joint tenancy once "mom and dad pass"). We were unprepared to find no agent in Minnesota that is familiar with this concept much less who had written such a policy.
I'm wondering if there is anyone out there who can enlighten or re- educate me on this issue
Posted: Mon Jan 28, 2013 11:46 pm Post Subject:
Any agent who writes commercial liability policies for soleproprietors, partnerships, LLCs, and corporations will know exactly what to do for you. Those who only write "personal lines" such as homeowners and auto probably don't.
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