When becoming a professional property manager, it’s important to make sure you have all of your bases covered.
One of the best ways to do so is to insure everything—yourself, your business and the properties you plan to manage.
There are a few different ways to go about it, but property management insurance is your best option. A range of coverage is available— basic property insurance and property manager liability to excess umbrella liability or tenant liability—allowing you to tailor it to suit your needs. The coverage can also include worker’s compensation, earthquake and flood insurance, errors and omissions insurance, commercial auto liability and insurance for equipment breakdown or loss of income.
Property management is especially prone to lawsuits, so make sure that your policy covers guest and tenant suffering, both physical and emotional, including discrimination, invasion of privacy or slander.
Property management insurance makes sense, too, in cases where you’re merely renting one of your properties or contracting services for other property owners.
To craft a policy that meets your needs, schedule a consultation with Peter Green, an experienced insurance agent. Go online to get a free quote or call Peter Green at (714) 258-2800.