Do I need both a home insurance and business insurance?

[Teresa Villaruz]

Just started my LLC business and have both a long-term rental property and an STR. Since this is a real estate business and I have home insurance for all my properties, do I need insurance for my LLC as well?

[Jason Bott]

Quote from @Teresa Villaruz:

Just started my LLC business and have both a long-term rental property and an STR. Since this is a real estate business and I have home insurance for all my properties, do I need insurance for my LLC as well?

Teresa, if your LLC provides services outside of your insured rentals, than you should get coverage for your LLC for the service you are providing. Example; managing non-owned rentals, providing lawn service to non-owned properties, etc.

If the LLC only owns the rentals, and those rentals have a policy in the name of the LLC, than there is not reason to get another policy for the LLC.