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Updated over 1 year ago on . Most recent reply

User Stats

130
Posts
64
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Amber Forkey
  • Property Manager
  • Watertown, NY
64
Votes |
130
Posts

Carriers for Insurance: New Property Management Company

Amber Forkey
  • Property Manager
  • Watertown, NY
Posted

Looking for recommendations on insurance carriers for both the property management side and the real estate sales side as well. It is my understanding that there's different insurance a brokerage needs whether it's conducting property management activities or brokering the sale of a home. 

This is completely new to me so I'm hoping someone can steer me in the direction of a company that can provide the right coverage. 

  • Amber Forkey
  • [email protected]
  • (315) 608-1879
  • Most Popular Reply

    User Stats

    4,309
    Posts
    2,651
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    Michael Smythe
    #5 Managing Your Property Contributor
    • Property Manager
    • Metro Detroit
    2,651
    Votes |
    4,309
    Posts
    Michael Smythe
    #5 Managing Your Property Contributor
    • Property Manager
    • Metro Detroit
    Replied

    @Amber Forkey one thing to be careful of - you can't get liability insurance on properties you don't have a vested interest in. So, any property you manage you will have two choices for liability coverage:

    1) Be added as additionally insured to owner's policy

    2) Setup your company's own master policy that you add managed properties to.

    Just be sure to check your state laws on how to go about each of these.

    • Michael Smythe
    business profile image
    Logical Property Management

    Loading replies...