We own a house we live in and two rental properties. House's title is held by a revocable trust. Both rentals’ titles are held by an LLC. House insurance is in my wife and my names. One rental's insurance is in LLC's name and the other rental's in my wife and my names (have not switched to LLC yet). We have an umbrella policy that covers all three properties.

The problem: The umbrella policy application we completed says "Residential properties that are covered under a Commercial General Liability Policy or other non-personal Premises Liability Policy are excluded from coverage." The umbrella policy does not have such verbiage in it, only the application does.

Question: If we hold the insurance for the rentals in our names (husband and wife) instead of LLC's name so they are covered by the umbrella policy will we still have the LLC's protection?

Or should we just get another umbrella policy specifically for the LLC that holds the rentals?

Any help is much appreciated.

What does your LLC require? Is it a difficult thing to convert the insurance over? Is there a timetable to convert to the LLC? You should consult with your LLC for some clarity on this issue. Better yet the insurance carrier for the umbrella policy. It would seem you have a rental property covered under two insurance policies. Are your renters required to have their own liability insurance?

Why diont you consult with your insurance company on this? Assuredly they would give you the correct information.