Is landlord liability insurance needed if already hired a property management firm?

by **webb** » Sun Nov 20, 2011 9:01 pm

I have aleady asked a property management firm to handle the rental for me. Do I still need to buy the landlord liability insurance?

by **devon** » Sun Nov 20, 2011 9:02 pm

Well yeah, their insurance is for E & O. You need insurance for the property, they do not insure it in any way.

by **clem84** » Sun Nov 20, 2011 9:07 pm

Well yeah, their insurance is for E & O. You need insurance for the property, they do not insure it in any way.

YES. Your liability insurance is your responsibility & has little to do with the manager. They need to be named on it & need a copy of it but you are solely responsible for getting it set up & paying it.

by **chavivi** » Sun Nov 20, 2011 9:27 pm

Yes, you certainly need insurance. The management company will only insure itself against errors made on ITS part, not on your part.

by **cuartio52** » Sun Nov 20, 2011 9:31 pm

You can compare home insurance rates and services from different insurers here - homeinsurance.awardspace.us

by **ammi** » Sun Nov 20, 2011 9:35 pm

u or the PM needs it; but it is needed with you as the beneficiary

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