A vehicle registered to an LLC but used for personal purposes should be insured with a personal policy with the LLC listed as an "Additional Insured Interest."
When you use visitor.us to buy, register, and insure a vehicle in the United States, we form a Montana Limited Liability Company (LLC) for you, and register your vehicle to your LLC.
So how should a vehicle registered to an LLC be insured?
Consider the following example:
If you buy a vehicle for personal use, and you take a loan from Bank of America to buy it, Bank of America owns your vehicle, and is furnishing it to you.
In this example, your insurance policy will document you as the Primary Insured, and Bank of America as the Additional Insured Interest.
Registering a vehicle to an LLC is nearly identical to the example above: your LLC owns the vehicle, and is furnishing it to you for your personal use.
Therefore, your insurance policy should list you as the Primary Insured, and your LLC as the Additional Insured Interest.
Most insurance applications ask if the vehicle is:
- Financed,
- Leased, or
- Owned Outright
There are two steps to adding your LLC to your policy as an Additional Insured Interest:
- Select the Financed option, and
- List your LLC's name and address as the vehicle's Lender