Property Managers Insurance
Property managers have unique risks that can only be insured with the right kind of commercial insurance. Property managers insurance can help ensure that property managers and third party interests are protected in the event of a fire or other catastrophic loss.
Top Four Risks For Property Managers
While there are many other risks associated with owning and running commercial real estate, we wanted to identify the four that seem to get the most press.
Property Insurance- Every property manager owns or manages business property, and they may also own the building in which they run their operations. Property insurance protects the physical assets your business owns – such as buildings, loss of rents, computers, office equipment, furniture, fixtures, and other property.
Cyber Liability- Cyber liability is the risk posed by conducting business over the Internet, over other networks, or using electronic storage technology to store confidential information. It covers third party losses from hackers, theft, and loss of information including sensitive client or individual personal information. If you collect any personal information from tenants including credit cards or bank information, you need cyber insurance.
Liability Insurance- Property managers have risks of bodily injury, property damage and personal injury as a result of hazards on their premises and/or operations. Property managers are also facing increased discrimination claims arising out of tenant issues.
Property Managers Crime Insurance- It is impossible for building owners to monitor everything that occurs on their properties, and crime insurance can also cover losses that are the result of acts of crime.
We are Worthington Insurance specializing in competitive auto, home, contractor and business insurance as well as insurance in Philadelphia, Yardley, Morrisville, Langhorne, Newtown, Bensalem, Levittown, Bucks County and surrounding areas in Pennsylvania and New Jersey.