Owning a Bus in an LLC is not just for tax advantages, it can be useful as a buffer from certain types of liabilities. One can even go to other steps, and add a family trust, and a second LLC as another set of layers.
The so called Montana LLC's can accomplish most of this, and if you make a concerted effort to operate your LLC as a real business it is even better.
There is no way to insure that you will not be sued by one of these creeps, but is does help.
You can go crazy with different layers, even have two LLC's, one that owns the Bus and one that leases the bus to the other. places you and your assets way back in the background. You will of course pay more for filings and have more paper work, but if you are concerned about the legal predators then its a must.
If you go the route of having a Leasing company and a main holding entity, it would be wise to have a real lease agreement to operate the bus, or even a rental agreement. If you are ever in an accident you could state that you are renting the vehicle, and maybe even show a document.
There are of course problems with all of this, insurance etc, but it does provide additional layers.
Most good Law Firms know who to call at the local Police department to get records of traffic accidents.
If this thread makes you concerned, then its a must to evaluate your options.
If your personal assets make you concerned about a possible negative outcome from a traffic accident, then I would contact my lawyer and start the process, it does not need to be expensive and frankly if you have not the whole experience might well improve your overall asset protection plans.
Regards.