E&O Insurance for Property Managers
As a property manager, you may be faced with unruly tenants or situations that require eviction. If you run a business as a property manager you need an insurance policy that protects you from these heated situations. Protect your business with a Professional Liability (often referred to as E&O) Insurance Policy for Property Managers.
Two of the most common claims that businesses like your face include:
- Wrongful Eviction: As a property manager, you’re responsible for evicting tenants for situations such as nonpayment of rent, lease violations, property damage, and illegal activity including drug use or expiration of the lease agreement. Not following the proper eviction processes that are in place by local laws can lead to a claim against you for wrongful eviction.
- Tenant Discrimination: Claims against property managers for discrimination is becoming more and more common. If an applicant to one of your properties claims that you did not rent to them because of their race, religion or gender you may have to defend yourself even if you didn’t do anything remotely offensive. Your Professional Liability (E&O) insurance policy can help cover your attorney fees for defending you for wrongful discrimination claims.
Additional claims that may be covered by your Professional Liability insurance for Property Managers can include:
- Defense Costs
- Libel & Slander
- Copyright infringement
- Claims arising from previous services provided
Protect your Property Management business with an E&O insurance policy designed to protect you. Hirsch Insurance Brokerage in Houston, TX is dedicated to finding the right Professional Liability Insurance policy for your business. We have the knowledge to help you make an informed decision. Call an agent in our office today to discuss your Professional Liability and Commercial Insurance options.