Property managers

Property insurance

Whether you are renting a commercial space, operating in a building you own or working from home, commercial property insurance provides protection against loss or damage because of events such as fire, theft, vandalism, and other perils. This coverage protects against damage to your company’s physical assets of your company, inside and out, such as buildings, inventory, equipment, furniture, and machinery, as well as exterior fixtures like outdoor signs, fences, landscaping, and debris removal.

Business interruption (rental income)

This coverage is necessary when your property is damaged by fire, water damage or another covered peril and your tenants are unable to use or access the building. Business interruption coverage compensates for the loss of income and other expenses such as rents, employee wages and more. This policy makes sure that a temporary shutdown does not turn out to be a catastrophic loss if you do not have the revenue stream to keep paying your continued expenses such as your mortgage and taxes.

Equipment breakdown

Whether you are a building owner or a tenant in a leased building, your standard property insurance covers damages to your equipment from perils such as a fire, theft, water damage, windstorm, and others. However, property insurance policies do not cover damage from causes such as mechanical failure of equipment, electrical short circuit, explosion from a boiler or other pressure vessel, change of temperature and mechanical breakdown. Coverage for these types of losses requires specific equipment breakdown coverage.

Commercial general liability « CGL »

Commercial General Liability (CGL) is the most well-known coverage and most purchased policy issued to businesses to protect them from liability claims resulting from bodily injury and property damage arising from their premises, operations, products or completed operations as well as advertising and personal injury (PI). Liability coverage is intended to protect your business against both the legal costs and any claim payments for which you are ultimately held legally responsible.

Professional liability « E&O » for property managers

Property managers E&O insurance is a liability insurance coverage that protects professionals in the event they get sued by their clients or third parties as a result of their mistakes, negligence, errors, and damages they cause their clients such as failure to purchase appropriate property insurance and other claims of failure to perform professional duties according to your agreement with your client. Professional liability insurance covers your legal defense costs and fees, settlements, and judgments.