Property manager named on insurance ?

[David B.]

Is it typical that a property manager would be named on home owners insurance?
Why would property manager need mortgage statements?

[Nathan Gesner]

Quote from @David B.:

Is it typical that a property manager would be named on home owners insurance?
Why would property manager need mortgage statements?

I see no justification for sharing mortgage statements. I would ask them for a strong explanation on that one. I see it as a red flag that they don't know what they're doing or maybe they're up to no good.

It is good to have the PM listed on your insurance policy. They will be "additional insured" or "additional interest" on the liability portion only. If a Tenant sues, your insurance company will protect you and the PM. Without that coverage, the PM would have their own attorneys fighting the lawsuit, and their attorney may start fighting against your attorney, or vis-versa. It's best to have everyone fighting together against the tenant and there's no additional cost for this coverage.