WHAT TYPES OF INSURANCES SHOULD A LARGE PM COMPANY CARRY??

[Lisa Hoover]

What types of insurance should a professional large pm company carry to protect MY SINGLE FAMILY HOME due to their neglect, poor management policies? I gave my $300,000 move-in ready beautiful vacant home to this large well known local co in Oct 2016. ( Ive owned and self-managed another very similar rental in the same subdivision-- since 1998--and it has never had one day of vacancy in 16 years-- rented at $1860.) This professional pm co put all utilities in their name on my new property and turned the hot water heater ON and the Water ON ( even tho the main water cutoff valve is easily accessible in the coat closet beside the garage, the entire 3 months they 'managed it'). They let the property sit VACANT OCT-NOV and on their "routine inspection on Dec 1, to make sure hobos had not moved in" they SAW the water heater in the garage was spewing (at full blast) A 20' stream/ fountain of HOT WATER and that the entire finished closed garage was covered COVERED !! on every surface (walls, ceiling in this 2 story garage) in thousands of " circular black mold blooms" the size of baseballs. The field property manager's reaction to the horrendous discovery? He shut the garage door and left-- with water still spewing. He calmly drove back to his company office 25 miles away . Meanwhile I had sent him an email the night before, asking if he even had one call or inquiry yet from a tenant prospect?? He calmly replied to my email around 1130 am the next day stating " there is an emergency situation at your property-- the situation was so horrible I couldn't even take a picture. There is a water leak in the garage -- do you want our in-house maintenance team to repair it, or do you want to do the repairs yourself?" I live 40 miles away, so I called the owner of the biggest plumbing co in the city and he and 2 techs dropped everything to get to the property within 10 minutes of my call. I had put a garage outdoor access remote on the outside of the house.. they couldn't get in thru that because THE POWER WAS NOW OFF. Luckily i had put a coded door knob on the kitchen door that opens to the deck-- i gave them the code and they were inside instantly. The water heater was STILL SPEWING WATER full blast in a stream so strong it was hitting the second story ceiling and hitting the ELECTRICAL PANEL also located in the garage and that's what had knocked out the power . The plumbers immediately turned off the inside water main cutoff and sent me photos of the EMERGENCY SITUATION the pm so calmly let me know about by email an hour earlier. i fired the pm co that instant and got on the phone to STATE FARM (my HOMEOWNERS/rental policy dwelling ins co) all while driving an hour to the property. i also called the city's best WATER EMERGENCY REMEDIATION COMpany while en route. When i got there, the water was turned off ( finally) the drywall ceiling had fallen in, the light fixtures destroyed, the garage door opener plastic case was HALF FULL OF WATER and there were 1000s of mold blooms on every surface and hundreds of stacks of spiky growing black mold (looked like iron fiilings we used to play with in that game we all had as kids where u use a magnet and drag the iron filings around to put hair and a mustache on the bald guy cartoon photo) the mold spikes were 1.5" tall on the wood railings and stairs going into the house, on all of my beautiful built in wooden garage shelves--- what a mess-- like the streets of Beirut after the bombs went off. and I don't have allergies -- but i could not even STAND inside the garage because the WET MOLD MILDEW SMELL was so strong it instantly gagged me and gave me a headache and i couldn't breathe. So here we are on Jan 17 and now i know that the BEST rental dwelling policy does NOT COVER MOLD REMEDIATION AT ALL ( so far $14,000) but it does cover water damage with a $2500 deductible... (damage bills so far total $16,000 for demolitions,etc BEFORE REPAIRS EVEN START for new flooring in bonus room above garage , new insulation, new drywall, paint , too much to list.. SO MY QUESTION IS what kind of insurance does my property manager carry (i hope they have it) that i can sue them for damages not covered by my homeowners rental dwelling policy??? i know the Errors&Ommissions all re firms are required to carry won't relate to this gross negligence. thank you to all insurance brokers on BP for your answer- thoughts. I'm going to send the above to NARPM to ask them the same question!!! i've already contacted an attorney. Meanwhile, my newly acquired property, closed sept 29, 2016 has been VACANT for months continues to be uninhabitable probably thru FEB 2017. High water bills and power bills (over $500 each per month and a $2500 deductible are staring me in the face and so far, not even an "i'm sorry" from the pm co.