Real Estate & Property Management Insurance
Real estate owners and property managers face a wide range of responsibilities — from maintaining buildings and coordinating tenants to managing contracts, vendors, and financial decisions.
Real estate and property management insurance is designed to help address the liability, property, and professional risks that can arise when you own, lease, or manage property for others.
At Risman Insurance Agencies, we work with real estate professionals and property managers across Massachusetts to help them understand their exposures and explore insurance options aligned with how they operate.
Who This Coverage Is Designed For
Real estate and property management insurance is commonly reviewed by:
- Property management companies
- Owners of residential or commercial rental property
- Real estate investors
- Condominium and homeowners associations
- Leasing and asset management firms
- Mixed-use, retail, office, and habitational property managers
Coverage needs vary depending on whether you own property, manage it for others, or both.
Why Real Estate & Property Management Risks Are Unique
While property managers share some risks with other businesses, the nature of managing real property creates additional exposure.
Common risk considerations include:
- Tenant injuries or property damage
- Claims related to maintenance or habitability
- Errors in lease administration or management duties
- Discrimination or wrongful eviction allegations
- Property damage from tenants or vendors
- Contractor and renovation exposure
Insurance helps property managers manage these risks so they can focus on operations rather than uncertainty.
Common Real Estate & Property Management Insurance Coverage Options
Property management insurance is not a single policy. It is typically a coordinated program of coverages based on the type of property, tenants, and services provided.
Coverage options may include:
Commercial General Liability Insurance
General liability insurance may help address certain third-party bodily injury or property damage claims involving tenants, visitors, or vendors at managed properties.
This coverage is often required by landlords, lenders, and contracts.
Property Insurance
Commercial property insurance may help protect buildings you own, along with common areas, equipment, and business contents.
Coverage needs depend on ownership structure, property type, and lease arrangements.
Errors & Omissions (E&O) Insurance
Property management E&O coverage may help address certain claims alleging financial loss due to errors, omissions, or failure to perform professional management duties.
This coverage is especially important when managing property on behalf of others.
Builders Risk Insurance
When renovation or construction is underway, builders risk insurance may be needed to address property damage during the course of construction.
Property owners or managers often review this coverage to ensure they maintain control over claims and settlements.
Habitational Insurance Considerations
Managing apartment buildings, condominiums, or mixed-use residential properties introduces additional risk.
Habitational insurance programs may be reviewed for properties involving:
- Multi-unit residential buildings
- Condominium associations
- Mixed residential and commercial use
Coverage availability and pricing can vary significantly based on building age, condition, and occupancy.
Employment Practices & Tenant-Related Claims
Some property managers review coverage options that address:
- Employment practices liability (EPLI)
- Tenant discrimination or wrongful eviction allegations
These exposures are not typically addressed by standard general liability policies.
Why Standard Business Insurance May Not Be Enough
Managing real estate involves long-term exposure tied to people, property, and contracts. Standard business insurance may not fully address professional liability, tenant-related claims, or property-specific risks.
Reviewing property management-specific insurance options can help reduce gaps and surprises.
Why Real Estate Professionals Work with Risman Insurance Agencies
Experience with property-focused operations
We understand the operational and contractual realities of managing residential and commercial property in Massachusetts.
Independent agency with multiple carriers
As an independent agency, we work with multiple insurance companies and help clients compare coverage options based on property type, tenant mix, and risk tolerance.
Ongoing support as portfolios change
As properties are acquired, renovated, or sold, we help review coverage so insurance keeps pace with your portfolio.
Request a Real Estate & Property Management Insurance Review
If you own or manage real estate in Massachusetts, it may be worth reviewing your current insurance program.
Call: 781-396-2116
Request: Contact us online to get started
Insurance coverage cannot be added, deleted, or changed until confirmed in writing from our office.
