[Harleyman]

I realize in Canada the our laws differ I bit but not much. If your LLC was sued in Canada, the officers, being yourself, would be added to the suit. If the LLC did not have enough assets to cover the suit, the officers would pick up the rest. Have you checked that out.

[dbussone]

Originally Posted by l2ridehd

I did. McLin Burnsed has an attorney that specializes in corporations and I had him open, set up and handle all annual reporting for the Florida LLC. The LLC owns golf carts for my two rentals and my own two personal golf carts. And tenants sign a separate golf cart lease they made for me from the LLC. So yes it is possible if the LLC is sued I could lose all 4 golf carts plus the liability limit the LLC is insured for, but no more. It manages the risk.

Well done. A lot of folks use an online service to set up an LLC without an attorney involved. You did it the correct way and used a FL lawyer.

[Packer Fan]

never mind.

[tomwed]

If I use my own auto insurance on a rental car, I'm covered.
If I sign a waiver on a golf cart, that cannot exceed 20 mph and cannot go on the road, is it considered a motor vehicle so that my auto insurance covers me?
Suppose I rent an LSV , sign the waiver, that can go over 20 mph, has all the safety features and can go on the road, isn't that considered a motor vehicle? So I'm covered with my auto insurance.

I will take it up with my insurance company. So no one need fear of saying the wrong thing.

I was thinking about renting out the house and including a cart to sweeten the deal. It's all hypothetical at this point.

[GatorFan]

I suggest you talk to the agent who represents the companies. Unless an agent is actually licensed to represent the company they have no idea how the company will respond.

[Shadow8IA]

Originally Posted by tomwed

If I use my own auto insurance on a rental car, I'm covered.
If I sign a waiver on a golf cart, that cannot exceed 20 mph and cannot go on the road, is it considered a motor vehicle so that my auto insurance covers me?
Suppose I rent an LSV , sign the waiver, that can go over 20 mph, has all the safety features and can go on the road, isn't that considered a motor vehicle? So I'm covered with my auto insurance.

I will take it up with my insurance company. So no one need fear of saying the wrong thing.

I was thinking about renting out the house and including a cart to sweeten the deal. It's all hypothetical at this point.

Your auto coverage won't cover it but your home owners might. Ours was good in a gated community (not a community with gates) but not all of The Villages just the area we live in without leaving the gates. Ours also covered any golf course we were on. But not getting there.

[Kelsie52]

Originally Posted by tomwed

If I use my own auto insurance on a rental car, I'm covered.
If I sign a waiver on a golf cart, that cannot exceed 20 mph and cannot go on the road, is it considered a motor vehicle so that my auto insurance covers me?
Suppose I rent an LSV , sign the waiver, that can go over 20 mph, has all the safety features and can go on the road, isn't that considered a motor vehicle? So I'm covered with my auto insurance.

I will take it up with my insurance company. So no one need fear of saying the wrong thing.

I was thinking about renting out the house and including a cart to sweeten the deal. It's all hypothetical at this point.

You will get some people to tell you THEIR agent said this or that -in my opinion just to get the sale----I have checked numerous companies over the last 3 years that I have been renting out a Villa No one will give it in writing

One agent told us just say they are friends and you LENT it to them.. In other words. LIE ----

Reduce the price a little on the rental and give the guests a list of rental companies

INHO waivers are useless---- The waiver will not make you untouchable in a court case



It has worked for us ---

Good luck

[Arubagirl33]

I'm still a NY resident & would like to set up an LLC for a Rental in the TV. I can use an Attorney in Florida correct? It doesn't have to be set up in the State I reside??

[big guy]

Originally Posted by rustyp

Isn't a different type of home owners insurance policy required to rent your home? If so don't these policies look more like commercial policies and thus may cover a variety of liability issues not common to residential policies?

The insurance policy on our rental looks just like the policy on our home. It's the same company but it's almost $400 more per year than on our home although the rental is smaller.

[Villageswimmer]

We have friends who don't even bother to let the insurance company know they are renting their property, much less worry about the additional liability of including the golf cart. Insurance companies aren't your friends when there's any way out of paying a claim.

Best to present your situation honestly with your insurance people to be sure your assets are protected.