Property Management Insurance

Customized insurance solutions for your needs

Managing one property is hard enough as it is, however, most property management companies develop and manage numerous different properties at a time. The type of buildings managed may vary, including apartment buildings, condominiums, shopping centres and offices. In order to protect yourself from adverse risks, it's important to invest in the right type of insurance.

General Liability Insurance

While you may aim to make the living environment perfectly safe at all times, a tenant may still occasionally injure themselves on your property. Whether the accident causes property damage or bodily harm, you could be faced with a lawsuit in either case. With great general liability insurance, any property damage or bodily harm can be covered, including coverage of medical bills, legal fees, replacement costs and repairs.

Professional Liability Insurance

As a property management company, you work with tens, hundreds or even thousands of different tenants. While managing a property, one of those many clients may need to be evicted. Typically, evictions can wind up being messy, and some even go to court. Pay for your legal fees with professional liability insurance, which is also commonly known as errors and omissions insurance. If you make an administrative accident that causes financial or physical issues for a tenant, you may be able to claim medical, replacement, legal or recovery costs through your professional liability policy.

Professional Liability Insurance

As a property management company, you work with tens, hundreds or even thousands of different tenants. While managing a property, one of those many clients may need to be evicted. Typically, evictions can wind up being messy, and some even go to court. Pay for your legal fees with professional liability insurance, which is also commonly known as errors and omissions insurance. If you make an administrative accident that causes financial or physical issues for a tenant, you may be able to claim medical, replacement, legal or recovery costs through your professional liability policy.

Commercial Property Insurance

Protecting your property buildings from natural damages and criminal activity is essential. Commercial property insurance protects not only the building structure, but also the communal items in the building, like furniture and machinery. You may adjust your policy to include different perils, such as earthquake damage, water damage and burst pipes.

Loss of Rent

If your building is subject to damages, your tenants may not be able to live in their unit while you handle repairs. For you, this means you may lose out on months of rent. To make up for this, you can file a claim against your loss of rent policy and cover these missing costs. Keeping in mind that no two buildings are the same, each of these policy types will need to be tailored to the specific risks of the building. Some buildings may need more coverage than others, whereas some may require additional types of coverage. Speak with one of our knowledgeable isure brokers about creating the perfect property management insurance policy.

Loss of Rent

If your building is subject to damages, your tenants may not be able to live in their unit while you handle repairs. For you, this means you may lose out on months of rent. To make up for this, you can file a claim against your loss of rent policy and cover these missing costs. Keeping in mind that no two buildings are the same, each of these policy types will need to be tailored to the specific risks of the building. Some buildings may need more coverage than others, whereas some may require additional types of coverage. Speak with one of our knowledgeable isure brokers about creating the perfect property management insurance policy.





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