Real Estate & Property Management Insurance
The business environment of today presents a host of complicated risks to real estate and property managers. Many of these risks have serious financial implications, which can mean the difference between the success and failure of a business. Gaining control of such risks calls for an operative risk management system that is able to forestall, assess and control impending exposures.
With years of experience and commitment to the real estate industry, Risman Insurance Agency delivers all-encompassing expertise, malleable underwriting and significant aptitude to even the most complicated real estate risks. From property damage and environmental exposures to corporate governance and commercial umbrella liability, we offer seamless access to the foremost real estate insurance services and products in the industry.
Meeting Your Unique Needs
If you rent or lease real estate to other people, manage real estate for someone or practice buying, selling and renting real estate for other people, you need real estate insurance. Lawsuits in this industry continue to rise. Do not leave your business open to disaster by failing to have the right real estate and property management insurance policy in place.
Of course the insurance needs of a real estate and property manager is similar to that of other businesses in a number of ways, such as liability, property damage, health insurance and workers compensation, there are a number of way that the needs of property managers are quite unique. Here are some types of property managers insurance options that are unique to your industry, such as:
- Builders risk insurance – Another important thing to consider as a real estate and property manager is builders risk exposure. A number of property managers have made the mistake of having contractors pay for builders risk insurance for them. However, it is recommended that you purchase coverage for yourself. The reason for this is that as the policy owner you will have control over all claim settlements and you will be able to receive any claim checks directly.
- Errors and omissions coverage – The simple fact of the matter is that accidents are going to happen. With an errors and omissions policy included in your property managers insurance, you will be properly protected against liability claims that stem from a wide range of tenant/client financial loss, such as a failure to perform.
- Habitational protection – In many situations, the claims made involving apartment buildings and condominiums are disastrous. If you are not working with a competent and caring property management insurance provider like Risman Insurance Agency, the coverage for your habitational property can be difficult to secure as well as quite costly. Our agents will work with you in order to help you purchase the right coverage with adequate limits and policy options that meet your needs.
- Loss prevention – When you insure a commercial property risk management and loss prevention expertise is required for the business that is renting the property. For instance, if you rent to a dry cleaning business, the type of coverage will not be the same as that of a restaurant. A Risman Insurance Agency representative will work with you to make certain you are aware of any issues related to tenants of various classes.
- Tenant discrimination coverage – One of the greatest concerns that many property managers have to face is tenant discrimination. Unfortunately, a general liability policy does not offer coverage in this particular area. Including tenant discrimination as a part of your property management insurance policy will provide you with coverage when a prospective, former or current tenant makes a claim of wrongful discrimination.
Your clients have entrusted you with the management of their property. However, things do tend to go wrong from time to time. When the inevitable does occur, it if vital that you have the right property management insurance effectively in place. It does not matter which type of property you manage, including strip malls, office buildings, habitational properties or main street properties, Risman Insurance Agency has the expertise and knowledge to help you manage the associated risk.
It is important to understand that various types of properties are exposed to different risks. Therefore, it is vital that you work with a specialist such as Risman Insurance Agency who understands all of the many different types of real estate insurance coverage that is available to you.
We pride ourselves with providing our clients with all of the necessary tools to create an effective system for risk management, making it possible to evaluate, anticipate and gain control of possible exposures. The team at Risman Insurance Agency are here to help you control the risks that are specific to your industry with the right real estate insurance.
All you have to get started with your risk free quote is click on the quote request button now. Within a day’s time, a skillful agent will be in touch with you to help you with the property management insurance policy that is right for you.
Marvin Kaplan Insurance
Medford, MA 02155