How Do I Insure Multiple Businesses Under The Same Roof

A quick peek at an international conglomerate like disney or coca cola reveals dozens upon dozens of smaller subsidiaries all of them housed under a single entity.

How do i insure multiple businesses under the same roof. With one ein if any of the businesses under that number is sued the assets of all of the businesses are at risk. Typically a holding llc will have administrative significance but no direct operations tied to it. If you do not use the same name with each business and then have them at different suites you have helped yourself a bit. This can be tricky to do if the accounting books and records for the multiple lines of business have not been kept separately.

If you have multiple businesses that are taxed differently such as a corporation and an llc. Another option for running multiple businesses is to create individual llcs for each of the businesses and then put them under one parent llc that acts as a holding company. Create one corporation llc and have multiple dbas under the main corp llc might be best for me. So let s say we have a hail storm and the roof takes a beating.

Create an llc holding company with individual llcs under it. My strategy would be to have you focus on the name address phone nap and get each of these pieces corrected before you do anything with listing the fence company. Because these types of businesses fall under different tax rules they require separate eins. They will want absolute proof that storm damage is the cause of the roof leak to determine this insurance company will send out its own adjuster someone that works for the insurance company.

You will want to consider carefully if you. Some companies however will waive the comprehensive deductible on the car insurance claim due both claims occurring from the same event. One claim for the vehicles on the car insurance policy and a second claim for the home under the home policy. I was reading the article how to set up and structure multiple businesses and i believe that option 2 option 2.

I already have an llc for my event planning company. Small businesses can utilize the same structures and gain the same benefits. Generally speaking there are three different ways to structure multiple businesses. When this happens insurance companies will process the claims separately.

Structuring different ventures under one roof is a common strategy especially for large corporations. If the roof has multiple layers typically the insurance company will only insure the top layer. There are advantages and disadvantages for each approach and the best structure will depend on your personal. I am looking to branch into other business ventures unrelated to event planning.