Do I need Insurance for my PM company that manages only my units?

[Victor Lee]

Hi All - Not able to get any clarity through past posts. I have 4 duplexes thus far. 1 in my own name and other 3 in 3 LLCs. All 4 have liability insurance. Also have Umbrella Policy on top of the duplex in personal name.

Just started a new property management LLC to be the front and the operator with no assets so I can manage these duplexes and future purchases. This PM LLC will lease, communicate with tenants, maintain/repair the properties etc

I know I need to add this PM LLC as additional insured on the rental policies

but do I also need to have a separate policy for the property management LLC? I am the only member and there are no employees but my name will be out there as the face of the company working with the tenants, contractors et al so want to be covered in case someone decides to sue me or the PM company.

Thanks so much.

[Drew Sygit]

Your PMC should get an E&O policy that covers you for Fair Housing complaints, etc.