Insurance For Property Managers
By managing both residential and commercial properties for others, property managers have specific exposures to risk. Insurance for property managers is designed to protect against the various risks that property managers and property management firms can face in their day to day work. From professional liability insurance to general liability insurance, we have property managers covered in Alabama, Arizona, Arkansas, California, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Texas, Utah, Virginia, Washington and Wisconsin..
Professional Liability Insurance – Errors and Omissions
The most important type of business insurance for property managers to carry is professional liability insurance, which is also often called errors and omissions. From lawsuits arising from claims of wrongful eviction to tenant discrimination, professional liability insurance can help to protect property managers should they be sued by a client. Even if not mistake or wrong doing actually took place, professional liability insurance can help to cover legal fees that can add up quickly when defending a claim.
General Liability Insurance
One of the more commonly known forms of business insurance, general liability insurance can help to protect against claims of accidental bodily injury or property damage to third parties, such as clients. Should a client claim that they slip and fall inside of a property manager’s office, or that the property manager accidentally damaged a client’s property, general liability can offer coverage against these types of physical claims.