Quote:
Originally Posted by Fraugoofy
The renter is not covered. You are correct. But by forming an LLC the owner of the cart can only be sued for the amount of the business and not his life savings. No matter what renters are not covered. If you rent a golf cart from The Villages, I don't think you have insurance, either...
Sent from my SM-N910R4 using Tapatalk
|
Maybe, but how do you define "the business?" Since the business relationship revolves around renting the house, isn't that the business? Seems to me the golf cart is ancillary to the house. Could you lose the house?
If someone were seriously injured/killed, the lawyers look to anyone, including entities, to sue. The deeper the pockets, the better.
That said, I'm sure your attorney knows what he's talking about. If your insurance agent provided assurance that you're liability is covered under this arrangement in writing, I guess you're good.
As I've said my State Farm agent will not write a policy like this.
Would you mind sharing the name of your insurance company?