Property management insurance protects professional property managers against legal claims from property owners and tenants. There are numerous reasons why a property manager can have lawsuits filed against them, ranging from negligence to discrimination, and Ontario property management insurance covers the legal and court fees that come along with a lawsuit to ensure a property manager doesn't have to pay out of their own pocket. Don't leave yourself vulnerable to a wide variety of potential claims—an experienced Morison Insurance broker can help you find the best coverage available for property managers in Ontario, so you can have peace of mind knowing you're protected against whatever comes your way.

Everyone who manages a commercial property needs property management insurance. That applies to building owners who manage their own rental properties, as well as a third-party property management business or individual. Because there are so many legal risks inherent in managing real estate assets, a robust property management insurance policy is very important for anyone who is responsible for tasks such as finding new tenants, handling sensitive tenant information and ensuring a building is in safe, livable condition.

In short, anyone who is doing the following should be covered by Ontario property management insurance: Renting or leasing residential properties; Contracting repair and maintenance services for a rental building; Managing any number of properties, from one to dozens

Because they deal with so much sensitive information and have to navigate complicated legal processes such as eviction, property managers are more vulnerable to litigation than many other professions. At the same time, there are so many things that can go wrong at a rental property that also leave property managers open to legal action. That's why Ontario property management insurance is so crucial. From cyber attacks from hackers determined to uncover sensitive information and hold it for ransom to serious bodily injury caused by negligent maintenance practices, there's a lot that can go wrong for property managers. When you call Morison Insurance, you get the peace of mind that comes with knowing you have the best coverage available and won't have to pay eye-watering bills for medical costs, legal fees, damages and much more.

No, property owners need commercial property insurance (/business-insurance/commercial-property-insurance/) for the building itself. If you are both owner and property manager, you need commercial property insurance. Third-party managers who do not own the building do not need third-party property coverage.

No, general liability is important but not sufficient. Professional liability  and cyber liability are strongly recommended. Additional coverages may be needed depending on operations.

Typically yes, your policy typically extends to multiple buildings managed by your company. You must disclose all managed properties to your broker so they are factored into the premium.

First step: contact your attorney. They will guide the process, offer professional advice, and ensure deadlines are met.