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Old 04-11-2018, 11:15 AM   #8
adjusterjack
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Join Date: May 2016
Posts: 1,317
Default Re: Can I personally insure a car that is used by and owned by my LLC?

Quote:
Originally Posted by Jason 45 View Post
NY
Am I allowed to pay the insurance bill (billed to the LLC) from my personal account if my LLC owns the vehicle?
That doesn't violate any insurance law does it?
You can pay it from your personal account and there is no law against it.

However, the risk of paying any of your LLC expenses from your personal account is that you erode the barrier that separates you from the entity that is the LLC and makes it easier for the enemy to "pierce the corporate veil." (google it.)

Make sure you pay all your LLC expenses from the LLC account.
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