Business insurance for Property management

Your job sees you handling stress for your clients, who rely on you to look after their most valuable assets. It’s a lot of responsibility, which means that in professional property management, insurance is vital. You can’t keep an eye on everything at once and there are some things you just can’t control. From angry tenants to damaged property and data breaches, a comprehensive business insurance package will protect you against the risks you face.

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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.

Damaged property

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

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

Not sure what you need?

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.

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Key types of insurance for property managers

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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.

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