Do you need to purchase insurance for flips?

[Emillio Henry]

I hired an attorney for a house I'm flipping and he asked me if I have insurance for the property. This caught me by surprise, being a first time flipper I wasn't aware I needed any sort of insurance for a property I only intended on holding for 3 to 6 months through my LLC. Can anyone shed any light on this and what insurance if any you've purchased when flipping houses.
Thanks,

E.

[Wayne Brooks]

What if vandals break in, cause a major flood or fire?  What about liability?  One of the workers, not covered by workers comp by one of your illustrious subs, get hurt/disabled while working on your house....who do you think pays?

OF COURSE you need insurance!  You’ll want to get a renovation/rehab version of Builders Risk, and liability.