Manage your property with confidence. We’ll handle the insurance.
New Hampshire Property manager insurance to protect your assets and your future.
If you manage residential or commercial rental properties, you face a diverse set of risks and potential losses:
- Lawsuits
- Property damage
- Tenant disputes
Concerned about liability issues or damage protection?
The right property management insurance coverage can protect your company, your finances, and your reputation. We’ll help you navigate the world of property manager insurance in New Hampshire. We can design coverage that’s a perfect fit.
Essential elements of property manager insurance coverage.
A strong property management insurance policy protects you from many types of losses. Protect against all the risks you face in property management with an insurance policy with these key components. The most important insurance for your property management company include:
- Errors and Omissions: protects you from mistakes in managing property.
- Commercial Property: covers your office, equipment, and other assets.
- Commercial Auto: protects vehicles used for business.
- Tenant Discrimination: covers claims from renters alleging unfair treatment.
- General Liability: protects you from injury or property damage claims.
- Cyber Liability: protects against data breaches and cyberattacks.
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Errors and Omissions Insurance (E&O)
Risk Factor
Property management firms have many exposures that can lead to a lawsuit. Dealing with boards of directors, owners, residents, employees, vendors, and regulatory authorities can and often does lead to lawsuits.
Solution
Errors and omissions liability insurance protects property management firms if a client alleges that you were professionally negligent or failed to perform professional duties.
Commercial Property Insurance
Risk Factor
Property management firms may face serious financial consequences from property loss by fire, wind or other causes.
Solution
A business owners policy (BOP) or package policy providing commercial property insurance will provide coverage for damage to a building you own, along with coverage for personal property and income lost due to a covered cause of loss.
General Liability
Risk Factor
Property management firms can be sued for injuries or property damage at their office and sometimes at the properties they manage.
Solution
General liability insurance is an absolute necessity for any property management firm. It provides coverage for legal fees and judgments when the firm is named in a covered lawsuit for bodily injury, property damage, associated medical costs, and more.
Crime and Fidelity Coverage
Risk Factor
As a property management firm, you have access to your clients’ money. Illegal activity such as forgery or theft can occur.
Solution
Crime and fidelity coverage is designed to provide coverage for theft of not only money and personal property owned by the firm, but money that the firm has in their custody for their clients.
Cyber Liability Insurance
Risk Factor
Property management firms have exposures including the need for protection of privacy, data and financial information for their clients. Breach of data can result in costly fees and lawsuits for the association if held liable.
Solution
Cyber liability coverage covers fees and lawsuits resulting from the breach of personal data in the event your firm is liable.
Hired and Non-Owned Auto Liability Insurance
Risk Factor
Property managers must drive to the sites they manage regularly. Accidents can and do happen. If an employee were to get into an auto accident while working, the management firm could be named in a suit by the injured party.
Solution
If any automobiles are owned by the property management firm, a commercial auto insurance policy should be obtained. In addition, hired and non-owned auto liability should be maintained in any case to provide coverage in the event an employee gets into an accident while using their own car.
The importance of general liability coverage for property managers.
What happens if someone has an injury or suffers property damage at your location and you’re responsible? Liability insurance for rental property protects you and covers the damages. Commercial rental property insurance also pays your legal fees.
With Colby, property management insurance coverage serves you and your business. For property manager insurance in NH, this protection is a foundation of any policy.
Professional liability insurance for property managers and contractors.
Insurance real estate coverage includes errors and omissions (professional liability coverage). It protects you from mistakes or missteps in how you manage property.
Examples:
- You skip a step in the eviction process.
- You accidentally hire an unlicensed contractor.
Tenant-related coverage for property managers.
Property management insurance also includes tenant discrimination coverage. This protects you from claims that you treated renters unfairly—like setting prices, choosing tenants, or creating lease terms.
These situations are legally tricky. Having property management insurance that covers them brings peace of mind.
For insurance policies that cover these and other risks of property managers, contact us today.
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As an independent agency, we are here to help you find the right Property Management Insurance in New Hampshire coverage.
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Property Manager Insurance in New Hampshire Quote Request
As an independent agency, we are here to help you find the right coverage.
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