As a working professional in the field of property management, you can face the claims of business owners, current tenants, and potential tenants. This is why we recommend that property managers learn more about professional liability insurance to help plan for the unexpected.
Professional liability insurance, sometimes called errors and omissions insurance, is coverage for claims against businesses. If you are looking for error and omission property management services then you can consider best keystroke underwriters via online sources.
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That provides professional and personal services – for property management businesses like yours. Property manager liability insurance not only protects your business in the event of a lawsuit. But it can also help you make the best decision for your financial future.
When is it important to have professional liability insurance as a property manager? Examples include the following hypothetical scenarios that typically occur in the property management business.
Wrongful eviction: A tenant on a building you manage to get angry after receiving an eviction notice and require you for wrongful eviction. As property managers are responsible for expulsion, the likelihood of professional liability claims increases greatly.
Despite following proper removal procedures, you are not free from claims – claims that could put your business at financial risk. But with Hiscox on your side, a professional liability insurance plan can protect you, even if you made a mistake.