# Liability Insurance - Need recommendations

**URL:** <https://forum.retipster.com/t/liability-insurance-need-recommendations/604>\
**Category:** Land Investing\
**Created:** [January 22, 2022, 4:21pm UTC](https://forum.retipster.com/t/liability-insurance-need-recommendations/604 "2022-01-22T16:21:15Z")\
**Posts on this page:** 3\
**Page:** 1

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**Author:** ![bairdd1987](https://avatars.discourse-cdn.com/v4/letter/b/839c29/32.png) [@bairdd1987](https://forum.retipster.com/u/bairdd1987)\
**Post date:** [January 22, 2022, 4:21pm UTC](https://forum.retipster.com/t/liability-insurance-need-recommendations/604/1 "2022-01-22T16:21:15Z")

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Does anybody have liability insurance on their LLC?

If so which company do you use and what’s the approximate cost and coverage?

Thanks,

David

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**Author:** ![Sean\_Markey](https://yyz1.discourse-cdn.com/flex031/user_avatar/forum.retipster.com/sean_markey/32/1973_2.png) [@Sean\_Markey](https://forum.retipster.com/u/Sean_Markey)\
**Post date:** [January 24, 2022, 9:09pm UTC](https://forum.retipster.com/t/liability-insurance-need-recommendations/604/2 "2022-01-24T21:09:22Z")

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We carry a million dollars of liability coverage on each LLC and a million dollar umbrella policy over that, all with Allied / Nationwide. Costs three or four thousand bucks for each policy. Each LLC holds commercial property with equity.

How much to carry depends on how much equity you have to protect in the LLC and how much personal net worth you have to protect outside the LLC, if you get sued personally.

Not much equity and not much net worth at risk means not much need for a lot of liability insurance. A minimum amount may be good enough. And having a minimum amount may be enough to avoid a spurious claim from a dirt bag. We are in California where lots of people like to sue and lots of underemployed lawyers have nothing better to do.

A commercial tenant is currently defending us on a slip and fall claim that is likely going no where.

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**Author:** ![bairdd1987](https://avatars.discourse-cdn.com/v4/letter/b/839c29/32.png) [@bairdd1987](https://forum.retipster.com/u/bairdd1987)\
**Post date:** [January 25, 2022, 3:33am UTC](https://forum.retipster.com/t/liability-insurance-need-recommendations/604/3 "2022-01-25T03:33:28Z")

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@sean-markey Thanks for the information