E&O and/or Property Mangers Insurance Necessary?

[Matt Henshaw]

I have owned rental property for the past 15-20 years. Until recently I have always owned them under my own name. Like many investors, I finally decided to move them to LLC's. I have $1,000,000 liability coverage on all (each) of the properties. When I created the LLC's I decided to create a management company LLC to manage all of them. Currently I self manage the properties through the LLC. Do I need to get e&o and/or property mangers insurance for my management company even though I have solid insurance on each of the properties? Thanks in advance.