Business Insurance for Property Managers

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Property Managers

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Why do property managers need business insurance?

Property managers take on a lot of responsibility, which results in high risks. A disagreement with a tenant or a building owner could have serious financial consequences. Property management insurance protects against the cost of wrongful eviction claims, injuries, and property damage.

Property manager handing keys to a tenant

Find affordable coverage

Property managers can save money on insurance by comparing quotes from top providers.

Fill out Insureon's easy online application to get free quotes and advice from a licensed insurance agent.

What types of business insurance do property managers need?

These policies cover the most common property management risks.

General liability insurance

This policy covers basic property management risks, such as tenant property damage and bodily injuries. Bundle with commercial property insurance for savings in a BOP.

BEST FOR

Slip-and-fall accidents
Damaged tenant property
Libel and other advertising injuries

Errors and omissions insurance

E&O insurance covers legal defense costs related to a property manager's work performance, such as an accusation of negligence from the property owner or a renter. It's also called professional liability insurance.

BEST FOR

Failure to provide promised services
Tenant discrimination claims
Eviction disputes

Workers’ compensation insurance

Most states require workers' comp for property management businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.

BEST FOR

Employee medical expenses
Disability benefits
Employee injury lawsuits

Business owner’s policy

A BOP bundles commercial general liability coverage and property insurance in one plan. It's one of the most cost-effective business insurance policies for a property manager.

BEST FOR

Tenant injuries
Damaged tenant property
Business property damage and theft

Commercial auto insurance

This policy covers legal fees in an accident involving a vehicle owned by a property management company. Each state has its own requirements for auto liability insurance.

BEST FOR

Property damage caused by your vehicle
Medical bills from an accident
Vehicle theft and vandalism

Cyber liability insurance

This policy helps cover financial losses from data breaches and cyberattacks. It's strongly recommended for any small business that handles sensitive information.

BEST FOR

Client notification expenses
Fraud monitoring services
Data recovery

Looking for different coverage? See more policies.

How much does insurance cost for real estate professionals?

Real estate professional using calculator in front of home for rent.

A small real estate business will pay less for insurance than a larger company.

Factors that affect premiums include:

Real estate services offered
Business property and equipment
Business income
Types of insurance purchased
Policy limits and deductibles

View Costs

How do I get property manager insurance?

It's easy to get property management insurance coverage if you have your company information on hand. Our application will ask for basic facts about your business, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:

Complete a free online application
Compare insurance quotes and choose policies
Pay for your policy and download a certificate

Insureon's licensed insurance agents work with top-rated U.S. providers to find the right insurance coverage for your property management business, whether you work independently or hire employees.

What our customers are saying

"I had an urgent contractual requirement for insurance in December to pay before the end of the year. Holly Burton worked with The Hartford to send me an invoice around Christmas. I have saved hundreds in taxes."

Richard C.

Software / internet design

"Raynaldo made quick work of things. I told him what I needed, and ultimately I had a certificate of insurance in a matter of hours."

Michael D.

Programmer

"The response time was almost immediate. The options I was given were based on my company's needs. I received the policy in record time."

Esther L.

Management consultant