Commercial Real Estate

Commercial Real Estate

Your clients trust you to manage their properties for them.  However, sometimes things go wrong. When they do, it is important to have the right insurance protection in place.  Regardless of the type of properties you manage - office buildings, strip malls, main street properties, or a habitational property - we have the knowledge and the expertise to help you manage risk.  Because different types of properties have different types of exposures, it is important to work with a specialist who understands the different types of insurance protection available.  Also, because we focus in this area, we have access to insurance products other agents may not.

Who needs property management insurance coverage?

If you are involved in the following types of activities;  it is important for you to have this key coverage:

  • Renting or leasing real estate to others
  • Managing real estate for others
  • Selling, buying, or renting real estate for others

Lawsuits in this area continue to climb. Don’t leave your business exposed by not having this type of protection in place.

Unique needs

While the insurance needs of property management companies are similar to other businesses -  coverage for property, liability, workers’ compensation, and health coverage – there are many ways in which the needs of property management firms are unique.  Consider these types of unique coverage for your industry:

  • Tenant discrimination insurance
  • Habitational coverage  
  • Errors and omissions protection 
  • Builders risk insurance 
  • Loss prevention 

Working with one agency can avoid problems while saving time and money

Often property managers will purchase individual policies for each property they manage. With multiple policies in place, each has its own deductible.  A single catastrophic event in a geographical area can therefore be devastating to a property manager if all the deductibles apply.  Also, from an administrative perspective, it can be very difficult to manage.  That is why at The Heritage Group we recommend to our clients the use of one master policy whenever it is practical. If you are responsible for obtaining insurance coverage for your property owners, we can usually negotiate with the insurance companies to save you money. Having a master policy also makes managing expiration dates much easier.

If you need property management insurance, our experienced team is here to help you obtain comprehensive, cost-effective insurance coverage – tailored for your business’s unique needs. We represent many “A” rated insurance companies, and, therefore, can provide you with options.  Contact us today to learn more.