Property Management Business Insurance Coverage Checklist
The coverages a property management business business may carry — core, prevalent, and situational — why each matters, and the gap most often missed.
Pull out your current policy and check the box next to any coverage you can confirm is already in place — anything unchecked is worth a quick conversation with your advisor. Coverage checklist for third-party property management firms. Priorities reflect typical exposure; confirm against portfolio size and services.
Tick each coverage you can confirm you carry — anything left unticked is a good question for your next policy review.
| Have it? | Coverage | Why this business needs it | Priority |
|---|---|---|---|
| Property Manager Errors & Omissions | Covers owner and tenant claims over management decisions — check for antitrust and fair housing exclusions. | Core | |
| Additional Insured on Owners' Policies | Confirms each owner's GL covers the manager for property-condition claims. | Core | |
| Crime / Fidelity (incl. Client Funds) | Covers employee theft of rents, deposits, and trust funds. | Core | |
| Cyber Liability & Social Engineering | Covers data breaches and funds lost to fraudulent payment instructions. | Core | |
| Commercial General Liability | Covers the manager's own operations, offices, and in-house maintenance work. | Core | |
| Employment Practices Liability | Covers claims from leasing and maintenance staff. | Prevalent | |
| Hired & Non-Owned Auto | Covers staff driving to managed properties. | Prevalent | |
| Workers' Compensation | Required in most states; maintenance staff drive injuries. | Core |
The coverage gap most often missed
The most commonly missed gap for this class is how liability is shared with owners. Managers are routinely named in tenant injury suits, and unless each management agreement requires the owner to name the manager as an additional insured, the manager's own policy may pay first. Portfolio-wide practices create exposure too: algorithmic rent-pricing settlements neared $360 million by 2026, and many E&O policies exclude antitrust and fair housing claims. Trust funds also need crime and social-engineering coverage.
Send us the checklist and we'll review your property management business coverage line by line, then market it across multiple carriers that compete for your account.
Related: Property Management Business Insurance · Property Management Business Supplemental (apply) · All coverage checklists
Frequently asked questions
What insurance does a property management business business need?
The core coverages for a property management business business are Property Manager Errors & Omissions, Additional Insured on Owners' Policies, Crime / Fidelity (incl. Client Funds), Cyber Liability & Social Engineering, Commercial General Liability, Workers' Compensation. This checklist also lists the prevalent and situational coverages worth considering, with a plain-English note on why each matters.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my property management business coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.