Would it be wiser to form an LLC for each property or just use the extra money purchase more insurance on the property? It seems like a lot less hassle to buy way more insurane than you need. I’ve read that most lawsuits go the max insurance payout and never reach the LLC. Thoughts anyone?
You’re right. Most cases settle for the insurance limits. If you have a few million in equity, an LLC might be appropriate. No matter what you do, you’ll need insurance. It is not a substitute for an LLC or any other entity.