Do Property Managers Need Real Estate Insurance?

Real Estate Insurance New York

Whether you exclusively manage strip malls and office buildings, or condos and apartments, real estate insurance can be one of the most essential safeguards you build up for your company. With each different type of real estate, all property managers should prepare for the various types of exposures and risks that could potentially occur to the properties they oversee. Establishing real estate insurance in New York is not just a good business decision, it may be essential to your company’s survival, should a calamity occur.


Some property management companies mistakenly believe that their general policies cover a much wider variety of incidences than they really do. This often leaves a large gap in coverage that could be devastating for any business. Real estate insurance is there to fill those gaps and ensure that businesses are fully covered in every potential situation.


If your business offers the following services, you should immediately contact an expert who understands property managers’ unique insurance needs:

  • Buying, selling or renting real estate for clients
  • Leasing or renting real estate
  • Managing real estate for clients


Real estate insurance in New York can often be packaged under a master policy, reducing the number of separate policies you must maintain. A great agent will place as many policies as possible under the master policy, which can result in rate concessions that may save your business a lot of money, keeping you covered but with as little cost as possible.