Insurance for Property Managers
What can be so complicated about insuring Property Managers, right? Just tell your insurance agent buddy or neighbor, and they can write a cheap BOP policy that should cover everything.
This approach and mentality will leave a Property Management Company exposed to countless claims and could put you out of business before you really get started.
Properly Structuring an Insurance Solution
Important variables exist that will steer the direction of how to properly structure the insurance solution for Property Managers. A knowledgeable and experience insurance professional will be able to ask the appropriate questions. Generally, Property Managers will need:
- Business Owners Policy
- General Liability
- Commercial Property
- Commercial Auto
- Cyber Liability
- Professional Liability
- Excess Liability / Umbrella
- Workers Compensation
More than just Insurance
Having Risk Management processes and procedures is critical. Creating a culture of safety, a sound maintenance program, establishing partnerships with key service contractors and requiring regular training of your staff are all part of a successful Risk Management Program that will reduce the need to file claims and therefore your Total Cost of Risk.
How to get started on your quote
To get started on your quote, call our office or click over to our quotes page. Either way we'll make the process simple!