Insuring your property management business
From property law to environmental health and fluctuations in the rental market, you know your industry inside out. But even the most experienced property managers can struggle with difficult tenants. When it’s your client’s largest investment and their reputation is at stake, you need to know you’re protected in case you find yourself facing legal action. It’s also important to think about the data you keep, your own work premises and equipment. Hiscox can tailor your business insurance package to keep your business in safe hands.
Why you need business insurance in property management
Complications with tenants
Residential property management means you need to keep both your clients and their tenants happy. No matter how experienced you are, you could end up making a mistake – a family might claim they were wrongly evicted because of your advice, or claim they’ve been injured because of faulty electrics in a property you were managing. If you find yourself facing legal action, we’ll cover the cost and help you to get through it as quickly and smoothly as possible.
If your job involves visiting properties mid-tenancy to review their condition, you need to be covered for any damage that could occur. While you always respect others peoples’ property, there’s still a chance you or an employee might break something accidentally. Whether you spill a drink on a brand new carpet or a knock over an expensive sculpture, we’ll help to cover the cost.
Data breaches can come in many forms and they often have serious consequences. A cyber criminal could get into your work database and threaten to release sensitive information about your clients, or an employee might send an email to the wrong mailing list. If you find yourself dealing with a breach, we’ll be there to help with the costs and provide you with expert advice to help you through it
If you’re not sure what you need, tell us a little more about your property management business. We’ll help you to build your quote and explore any other insurance needs.Build my cover
Key types of insurance for property managers
These are just some of the types of business insurance for the property management industry that we can offer. We can provide other specific types of cover and build them into a policy that’s tailored to the exact needs of your business.Get your quote