Property Manage Insurance for Property Owners

3 Replies


Does anyone know that if the property owner manages his own property, does he needs to buy property management insurance?

I was told that the property insurance should cover it, but I am not sure if the tenant sues you for whatever reason that is property management related (such as negligence , discrimination etc), will the insurance company cover it? or you need to purchase property management specific insurance? which is not cheap, I got some quotes about $2K /year for 1M.

Please advise.

Thanks in advance.


@John Chen No clue what "property management insurance" is but it sounds like you're referring to professional liability insurance since you reference discrimination claims, etc.  If you are a principal owner and not a professional manager doing 3rd party fee management then I would think your regular general liability policy would have you covered. 

Get good insurance but also don't own property in your personal name, EVER.  

@John Chen An insurance policy covering Property Management is for people/companies who manage properties for other investors, condo associations, etc.

If you are managing your own properties, the General liability policy covering the rental will respond to tenant claims of neglegance.

As for Discrimination, that is a separate coverage not included in a General Liability policy, so you need to have your agent purchase this separately.