Property manager insurance supports real estate agents and property managers in dealing with their clients’ legal claims. It guards you against issues a renter or buyer might raise, which can require various coverage options, such as reputational harm or copyright infringement.
Each property is different and comes with unique claim profiles and coverage needs, and there’s no one-size-fits-all for property manager insurance. Depending on the chosen contract, your coverage may include incidents under three categories: tenant discrimination, general liability, and errors and omissions insurance. In some instances, supplementing these options with workers’ compensation insurance may be advisable.
Talk to a Marsh McLennan Agency specialist to determine which coverage matches your property managers’ requirements.