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 insurance that you need when you hire a property manager. There are a few things that an owner might want to know about his Las Vegas property manager.
For example, if a property manager is at a Las Vegas home owner’s property, showing the house to potential tenants, and the property manager backs over the neighbor or hits a neighbor’s car, whose insurance will pay for that?
It’s a huge claim if you don’t have the right insurance.
Non-Owned Auto Coverage
As a property manager, there are a couple of coverages you want to look for. On your general liability insurance, you have a coverage called non-owned auto. That will cover your employee who is using an automobile in the course of doing business for you.
Commercial Auto Coverage
There are also commercial auto policies that you can buy. These are similar to what you might know as a business use clause on a personal policy, but it’s not exactly the same. A commercial auto policy will have more coverage and provide broader coverage. It will also name you and your employees as additional insureds. A commercial auto policy is not that much more expensive than a personal auto policy, and it’s really a must-have if you have leasing agents and employees showing properties. You want to be safe and have the right coverage in case of an accident.
All the owners working with us at Blackbird Realty should know that we do have this coverage, which provides extra protection to us and to you. We purchased this insurance on the advice of Curt, and I didn’t even know we needed it until I got some education on property management insurance.