Property Manager Insurance

While managing residential or commercial properties, it is important to factor in the plethora of dangers and potential losses. Like a compass, Province Insurance will help navigate the tricky waters of property manager insurance and create the perfect coverage fit for you.

Protecting against all the risks connected to property management requires an insurance policy with essential elements providing the right coverage. The biggest risks include tenant discrimination, errors and omissions, and general liability.

All businesses should consider the general liability in the foundation of their business plans. General liability covers injuries that other people may suffer on your property or against damages people inflict on your property that you are held liable for. Comb your options carefully and search for policies that cover legal costs as well as damages.

Otherwise known as professional liability, this is not about the property itself. People will keep a close eye on whether you followed eviction processes correctly or hire contractors who are not licensed properly, and this is known as errors and omissions. The actions you take as the manager of the property and acquiring property manager insurance can certainly help protect you against this.

Property manager insurance can also help you cover claims that you wrongfully and unlawfully decided the price of your rent, who you rent your property to, and the conditions you specified. Attempting to navigate these claims can be a legal minefield, and the knowledge that these claims are covered can provide peace of mind.

Contact us today to learn more about insurance policies that cover the risks that come with being a property manager.