central - east central Minnesota - | BHTN - 2/18/2013 20:44 If you're driving the truck it won't matter how you've got it titled. If you're not, then your insurance is still the first line of defense. In my state you can probably buy more insurance for less than the cost of maintaining the LLC.
As others have posted, for the bother, cost and time, buying more unbrella liability insurance most times it a better move then setting up a LLC . . ..
This has been asked and reviewed several times in the last 3 months - do a search for more opinion.
Seems most that have LLC's swear by them -
I have one, and wish like heck I would have simple went the additional unbrella insuracne route.
Keep in mind, you still need to insure the LLC, in addition to your regular insurance for personal/home or farm.
There are time and places for LLC's, a very good compatent CPA, Attorney and Insurance Agent will be the best advisors to help a person work through the process.
As posted, Insurance Companies Attorneys like LLC's - it means more money for them, when the case goes to court.
The insurance companies are the ones that will sue the pants off the LLC and Personal . .. . the courts will decide if personal is part of the suit or not - You, well you get to provide all the documentation PROVEING, your personal has nothing to do with the suit . . .
If you have addiquet and proper unbrella insurance, well, then your insuracne company takes care of the matter for you . . . .. .
It's not quite that simple, but darned near ~
Edited by iseedit 2/18/2013 20:55
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LLC for farm or business vehicles
