Property Management Insurance Brokers | UK

If you manage commercial or residential property on behalf of others, you will need to consider insurance protection

Insurance for property management

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Compare business insurance for property management companies by completing our online application.
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Obtain property management insurance quotes from the wholesale market with a digital insurance broker.
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Benchmark your existing property management business insurance to ensure you purchase the most appropriate cover.

Property management insurance includes a variety of covers designed specifically for businesses that work within the property and facilities sector

Companies that manage commercial or residential property are exposed to a range of liability and property risks. Ensure your property management company continues to purchase the most appropriate insurance at the most affordable cost.


    About property management insurance

    Operating within the property sector continues to be challenging and not having suitable property management insurance can have dire consequences. Ensure you work with a specialist property management insurance broker to identify cover to meet your needs.

    Below we investigate what property management insurance is available and what your company needs to consider when selecting the most appropriate cover.


    What is property management insurance?

    Property management insurance provide comprehensive solutions designed to meet the needs of property managers. The cover is designed to mitigate financial risks and protect companies from unforeseen events.

    The main covers typically considered include:

    As digital insurance brokers we have an online application to apply for a range of products from wholesale insurers.


    Public liability or professional indemnity?

    Public liability insurance provides cover for personal injury or property damage to third persons. However, cover is typically excluded if the injury or damage has been caused in the course of providing a professional service.

    Therefore, you may need to rely on your professional indemnity insurance to obtain the protection you require.

    For example, if you received a complaint concerning excessive wear and tear to the stair carpet and a resident subsequently falls down the stairs and attributes blame to your failure to repair or replace.

    The cause of the claim is your failure to exercise reasonable skill and care in the provision of property management services. Therefore, your public liability insurance would not cover such an accident.


    Insurance for property management guide

    Please see below guide that identifies scenarios your property management company may face and the business insurance available to offer protection:

    What would happen if… Property Management  What the coverage does:
    A resident seeks damages after a fall at one of your properties which causes a serious injury.

    > Public Liability

    Protects the company against legal costs incurred in defending the allegation; and damages from any award or settlement.

    A resident seeks damages after you failed to make a repair and a subsequent bodily injury occurs.

    > Professional Indemnity

    Protects the company against legal costs incurred in defending the allegation; and damages from any award or settlement.

    A visitor to a property that you own and manage steals the fixtures and causes significant damage.

    > Property Owners

    Protect your company's contents against loss or damage from a range of insured perils.

    An employee is seriously injured whilst at work and seeks financial compensation.

    > Employers Liability

    Protects the company against legal costs incurred in defending the allegation; and damages from any award or settlement.
    The directors are investigated by the Health and Safety Executive and subsequently prosecuted.

    > Directors and Officers

    > Management Liability

    Protects the directors against legal costs incurred in defending the allegation; and damages from any award or settlement.
    There is an allegation of a breach of copyright in a commercial property campaign.

    > Corporate Legal

    > Management Liability

    Protects the company against legal costs incurred in defending the allegation.
    A longstanding employee claims workplace harassment and unfair dismissal.

    > Employment Practices

    > Management Liability

    Protects the company against legal costs incurred in defending the allegation; and damages from any award or settlement.
    An employee has fraudulently been skimming money passing through the business.

    > Crime Insurance

    > Management Liability

    Protects the company against financial loss from the theft of property, money or securities by an employee.

    A fraudster pretending to be a client advises their bank details have changed and payment is sent to the wrong account.

    > Social Engineering

    > Crime Insurance

    Protects the company against financial loss from the theft of property, money or securities as a result of social engineering.

    Your premises were destroyed as a result of an insurable event? (i.e. fire)

    > Property Damage

    Protects your company’s buildings and contents against loss or damage from a range of insured perils.
    Your business is unable to operate as a result of an insured peril.

    > Business Interruption

    Protects against the loss of income from being unable to trade as a result of the insured peril (i.e. property damage from a fire or flood).
    An accident occurs on the way to a property viewing with one of your employees at fault.

    > Fleet Insurance

    Protects from an accident causing damage or injury. Comprehensive cover will provide for damage to your fleet of vehicles.

    A cyber criminal breaches your company’s electronic security and steals personal information.

    > Cyber Insurance Protects the company against financial loss arising from security and privacy breaches. Can include first and third-party losses.

    Further insurance covers are available that can meet more specialised requirements.

    At get indemnity we maintain the knowledge and expertise to offer a wide range of solutions for any transferable risks.


    Activities of property management companies:

    Property management responsibilities will vary depending on their industry and area of expertise, although most perform a similar function.

    >  Commercial Property Management
    >  Residential Property Management
    >  Letting Agency
    >  Land Management
    >  Property Developer
    >  Property Maintenance


    Property management business insurance

    Property management companies are faced with a myriad of risks often dependent upon the nature of the services provided.

    Specific consideration should be made to professional indemnity insurance sometimes overlooked if there is not a contractual requirement to purchase.

    If you are unsure which covers would best suit your business, please contact us and we can discuss your requirements.


    Compare property management insurance cost

    Our knowledge of the market allows property management companies to be considered by insurers who want to grow their portfolios.

    At get indemnity our customers can achieve cost savings on their property management insurance renewal by comparing their existing cover against quotes from the wholesale market.

    Your no-obligation insurance quotes can typically be offered within 48 hours, offering our customer a quick and easy way to compare their business insurance.

     

    Compare property management insurance


    This guide is for information purposes and based on sources which we believe are reliable, the general risk management and insurance information is not intended to be taken as advice with respect to any individual circumstance and cannot be relied upon as such.