While Monoline can accommodate certain LLC and Trust structures, coverage is strictly limited to risks that remain personal in nature. You must review the specific ownership and operational definitions below to determine if a risk fits our underwriting appetite.
We differentiate strictly between estate planning tools (personal risk) and business entities (commercial risk).
1. Limited Liability Companies (LLCs)
Policy Definition: A limited liability company is a covered person, but members and managers are covered only with respect to the conduct of the limited liability company. Exclusion: We strictly exclude any loss arising out of business operations of the limited liability company.
✅ ELIGIBLE LLC RISKS
Sole Member: A single-member LLC is eligible if the owner matches the Named Insured as shown on the Declarations Page.
Spousal Ownership: An LLC owned jointly and exclusively by the Named Insured and their spouse is eligible, provided the spouse is a resident of the same household.
❌ INELIGIBLE LLC RISKS
Multi-Member (Non-Spousal): Any LLC engaged in active business operations is ineligible; coverage is reserved for passive rental or investment property holding only.
Commercial Operations: Any LLC engaged in business operations other than the passive holding of rental property is ineligible.
2. Trusts
Policy Definition: A Trust is a covered person, defined as the entity shown in the Named Insured(s) section of the Declarations Page. Trustees are covered persons only with respect to their duties as trustees.
✅ ELIGIBLE TRUST RISKS
Family & Estate Trusts: Trusts established for estate planning where the beneficiaries are family members or residents of the Named Insured's household are eligible.
Matching Named Insured: The Trust must be listed as the Named Insured on the Declarations Page are eligible.
❌ INELIGIBLE TRUST RISKS
Business Trusts: Trusts operating as active business entities (prohibited under the business operations exclusion) are ineligible.
Unrelated Beneficiaries: Trusts where members are not family members are ineligible.