Do I need insurance???

[Zac P.]

I have an LLC with a partner and we are going to be doing flips. All of these properties will have insurance, all contractors will carry their own insurance and we have E and O insurance being Realtors. However, do owners typically carry some kind of "operating insurance" in this situation? We are located in Kentucky. We want to protect ourselves, but is something like this necessary?

[Wayne Brooks]

Agrre, you don't need operations G/L unless you are say, doing contracting work for others. The liability on the actual properties is good. By the way, your E&O has no relevance to your flipping business, or personal deals.