Does a Series LLC need to have General Liability Insurance

[Kevin McCarthy]

So, first, if this topic has been previously posted, I would like to apologize.

My wife and I formed a Series LLC company in our state of Illinois. We are under contract for our first property and we decided to jump right into small multifamily properties. The property we intend to purchase is a 6 unit apartment building.

My background is on the claims side of the insurance world, but I'm a little confused about our circumstances.

Commercial properties are typically more 'A la carte' because you typically purchase what you want.

I am curious, does the parent of the Series LLC need to maintain General Liability insurance? It has no employees and I intend to sub contract the property manager to a 3rd party. The parent is NOT an active business and any liability would take place at the property, not on the business itself.

I'm currently being told I need GL, for the LLC, but I'm not sure I believe this...

Any insight on the topic would be most helpful!

PS. This is my first post here. I love everything BP shared and represents.