We are talking about insurance for your Las Vegas rental property, and today we have Curt Bulloch from Bulloch Insurance Brokers joining us. Curt’s company specializes in property management insurance, and they provide advice to property managers on the coverage their clients need.
Collecting Sensitive Data
As a Las Vegas property manager, you collect a lot of data from property owners, but especially from tenants. You have tenant application information, which includes social security numbers and dates of birth. You run credit reports, too. It’s critical that you protect that information and store it securely.
Cyber Liability Insurance
You can buy an insurance policy called cyber liability insurance to protect your interests if your data’s security is breached. It’s very affordable, and worth the investment. We are always hearing stories in the news about credit card breaches and bank accounts being hacked and other terrible situations. This type of insurance can protect your property management business against these kinds of crimes.
Your Las Vegas tenants provide social security numbers, driver’s license numbers, and checking account numbers. If something happens to compromise your cyber security, this type of policy can help your tenants repair their credit if any damage is done. Some states are requiring businesses that collect such data to remedy a person’s credit if there is a breach.
Breaches can happen in a number of ways. Data can be taken off your hard drive by a hacker. Or, data can be taken physically from a computer if someone takes a computer out of your office. Get some quotes on cyber liability insurance so your property management business is protected against the unforeseen things that can happen.
Curt Bulloch is an excellent resource if you have any questions about insurance for you or your Las Vegas landlords. If you need any advice about Las Vegas property management, please contact us at Blackbird Realty.