PM Qs: liability insurance - indemnity clause - and state laws

[Kelly G.]

I am interviewing PMs and looking over a couple contracts. I'm renting a SFH in Milwaukee - if anyone has suggestions for a PM!

Both companies (there aren't many to choose from that don't charge outrageous fees for ???? what???) want me to carry a $2M liability policy which would name them as also insured. Is this typical? Where's their liability policy with ME named as an insured?

The contract also states that I will 'indemnify and hold Agent harmless from all damages, suits liability (etc etc) including attorney fees' . . . and that the Agent (PM) "shall not be liable for any error of judgement or for any mistake of fact of law . . . except in cases of willful misconduct or gross negligence.' !!!

Is this now standard language for businesses?

Finally, who is responsible for ensuring state landlord/tenant laws are followed - me or the PM (or both?). Aren't I hiring a PM to cover my butt in case I miss something?

I live in CA so cannot manage this myself - I don't think?

Might I be better off simply hiring a company to screen tenants and 'hire' friends/family to keep an eye on the place. I could and have hired contractors remotely before if anything comes up. Already have a line of businesses that regularly use for maintenance.

Thanks so much for your help!

kelly