Is your agent-owned rental property covered? 巴尼施瓦茨, president and CEO of Preferred Guardian Group, an errors and omissions risk management partner of the association, says agent-owned properties serving as rentals are generally excluded from E&保险啊.
“Agent ownership is defined as 10% or greater ownership, which means if you are in partnership with nine other people in equal ownership, it’s considered agent-owned. Most companies will not provide E&O coverage for this,” Schwartz says.
为什么不? Schwartz says it’s because most E&O claims related to property management are between the landlord and the agent. “In the case where you own the property, 你会起诉自己的, and insurance companies don’t provide a policy where you can do that.”
If your rental property is agent-owned, look for general liability insurance that could provide coverage for an injury or damage to property.