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Old 09-02-2008, 10:01 AM   #1
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Insurance under an LLC

We bought a bus that we are converting into a tailgate RV. We formed an LLC to put the bus under so if anything happens the only thing that can be had is the bus. I have a question about insurance though. Do we get the insurance under the LLC or just as an individual?
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Old 09-02-2008, 01:28 PM   #2
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Re: Insurance under an LLC

If your bus is "owned" by the LLC, it should be licensed and insured by the LLC for the same reason the LLC owns it - to keep it from being "personal".
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Old 09-02-2008, 08:47 PM   #3
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Re: Insurance under an LLC

what is a llc?
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Old 09-02-2008, 09:40 PM   #4
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Re: Insurance under an LLC

Limited liability corporation. On the most simplistic level it is a business venture that serves to protect the individuals for the actions and problems of the group as a whole.
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Old 10-15-2008, 04:06 PM   #5
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Re: Insurance under an LLC

Quote:
Originally Posted by mmccool_24
We bought a bus that we are converting into a tailgate RV. We formed an LLC to put the bus under so if anything happens the only thing that can be had is the bus. I have a question about insurance though. Do we get the insurance under the LLC or just as an individual?
I have a group that is doing the same thing. Is it to our advantage to form the LLC in Nevada? I had heard that Nevada LLC's do not ever give up the owners name. Our fear is that someone gets injured on the bus and could come and sue us.

Getting the bus registered and insured under the LLC should not be a problem.
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Old 11-29-2008, 09:21 PM   #6
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Re: Insurance under an LLC

Yeah you might have to get a CDL for sure then.
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Old 04-24-2009, 11:04 AM   #7
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Re: Insurance under an LLC

How difficult/expensive is it to form an LLC and we are really concerned about insurance to. We placed a bid on a bus and now we are wondering if we can get it. GMAC is telling us they don't do insurance on a bus conversion and are checking with progressive who already told us they do not do it. If insurance is this difficult or expensive we might have cancel our bid! But we want a bus!
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Old 05-06-2009, 06:50 PM   #8
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Re: Insurance under an LLC

I registered my bus under my business name, which is a LLC. For the simple fact that when the plate is called in it shows up as the business and not myself. I like privacy. When i started my business I hired a lawyer to form the LLC and he charged me $400.00 This is in Rural Wisconsin, city prices are higher. But you can do this now online through your (most)states web page for less than $200.00
I have not looked into insurance yet, Wisconsin does not make you purchase it. And I see no reason you would need a CDL to drive a not for hire bus.
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