Updated about 2 years ago on . Most recent reply
Carriers for Insurance: New Property Management Company
Looking for recommendations on insurance carriers for both the property management side and the real estate sales side as well. It is my understanding that there's different insurance a brokerage needs whether it's conducting property management activities or brokering the sale of a home.
This is completely new to me so I'm hoping someone can steer me in the direction of a company that can provide the right coverage.
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#1 Classifieds Contributor
- Real Estate Agent
- Metro Detroit
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#1 Classifieds Contributor
- Real Estate Agent
- Metro Detroit
@Amber Forkey one thing to be careful of - you can't get liability insurance on properties you don't have a vested interest in. So, any property you manage you will have two choices for liability coverage:
1) Be added as additionally insured to owner's policy
2) Setup your company's own master policy that you add managed properties to.
Just be sure to check your state laws on how to go about each of these.
- Michael Smythe
