Legal Question in Insurance Law in New Jersey

insurance for multi site commercial properties

if one has several rental properties in different locations, should one take title to each of them separately under different LLC's, with separate liability insurance policies? or should one take title to new acquisitions under the same established corporate name, and if so, how should they be best insured. I am trying to avoid having several LLC's, with the resultant annual corp. tax filings and taxes, etc. Shareholders in LLC would be the same as existing corporation which already owns several properties, but we are expanding. my insurance company did not give me an answer I could understand.


Asked on 7/25/08, 12:59 pm

1 Answer from Attorneys
Barry Kozyra Kozyra & Hartz, LLC

Re: insurance for multi site commercial properties

While there is additional expense to multiple entities, there is also the benefit of protecting assets if something goes wrong with one location. I have used this strategy successfully to protect clients so I know it can work.

Obviously, the owners have to think about cost but there is a price to pay for protection.

If you are interested, our office can help you with this type of strategy.

Disclaimer: Your question and any response given are not intended to create an attorney-client relationship. The response given is not intended to be relied upon by you or anyone else as it is based only on the limited information which you have provided. Other information is needed before advice can be given including facts which you have not supplied which may change the response to your question. You should consult with an attorney as soon as possible to assess your legal rights so as not to prejudice yourself.

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Answered on 7/25/08, 2:27 pm


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