Updated 5 months ago on . Most recent reply
Question for California Landlords using Property Management
My property management company insists I have my insurance company add them on as additionally insured. While I don't personally have a problem with this my insurance companies do and they are refusing (all four). CIG, Foremost, Mercury, and Nationwide. There are 12 policies and I am told by my insurance agent that they will have to be rewritten with new companies, if they can find new companies that will take me on (this being California and some of these properties are in high risk areas). This will cause my insurance premiums to go up. Alternatively the property management is saying I can pay them $25 per door ($300 per month) and they will cover me). Not happy with that option either. Last option is I can switch management companies and hopefully find one that doesn't have this requirement. My question to the community is are all property management companies requiring to be added on to policies and are clients complying?