PM requiring to be on insurance

[Shaunta M.]

Hey everyone, I’m closing on my first property and looking for a PM. The one that I’ve liked so far require that they are put on the home insurance as a co-insured. That seemed odd to me. Especially since in the indemnity they relinquished liabilities to the owner. Is this something that’s common? Or should I keep looking? 

[John Scribante]

It is common to be "Additionally Insured" as this saves the landlord money because it is a unified defence, rather than two defense that is paid by the landlord under the indemnity.  Best to find a policy that will provide an "additional insured" listing (not additional interest).  Saves the landlord the double defense cost.