Taking on the role of a property manager can be a big responsibility. Maybe your small apartment complex has turned into a franchise with multiple locations and you need a property manager to, well, manage it all. But how do you start? How do you know that your business and your employees are protected? Here are some vital insurance policies to consider if you’re becoming a property manager.
If you’ve invested in or operate an apartment complex and you’ve been turned down for insurance, your apartment buildings may be considered “high-risk.” High-risk apartment complexes can be a little trickier to insure than “normal” ones. Many people don’t even know that their apartment investment is high-risk until they search for coverage. Plus, getting an answer from insurance companies as to why your apartment complex is high-risk can be like pulling teeth. Here’s some insight on why major insurance carriers may consider your apartment complex “high-risk.”
It can be tempting to pass on commercial multi-unit insurance and simply put up a premises liability sign when hundreds of guests visit your property every day. However, physical warning signs are not always the best option to protect you and your business from a liability claim. Here are 3 reasons why it’s better to have insurance for your multi-unit building instead of or in addition to leaving your guests’ safety to a sign.
Or simply making a claim on your commercial property insurance coverage. Instead, you must manage your risk now. Recently, we talked about the importance of having a written emergency disaster plan for your business and this article is part 2 in this series.
Unfortunately, businesses face all different kinds of theft. How vulnerable are you? First, we will identify the 4 main types of theft affecting business today. Then, we will give a few suggestions on how to minimize your risk.
