Good Morning...this is Dave Burdick, Burdick Insurance. Your agent is referring to the insurance concept of "insurable interest". That is the named insured must own the property being insured or be the mortgagee to have an insurable interest. The accepted record of ownership is the county tax roll. For series LLC's the parent LLC is sometimes shown as the owner on the tax rolls and then I would list the parent LLC as the named insured. The individual series LLC's can be listed as additional insureds. Remember, that a bank account for the named insured will be needed since any claim checks will be made out to the named insured. Best practices would dictate the above practices.
