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As part of our management services, we require that Legacy Property Management be named as an Additional Insured on your rental property’s liability insurance policy.
Why is this necessary?
While you are the property owner and we act as your agent, both parties can be named in a claim or lawsuit arising from the property. In situations where a tenant or third party alleges injury, property damage, or habitability concerns, it is standard for both the owner and property manager to be included in the claim.
By naming Legacy Property Management as an Additional Insured on your liability coverage, your insurance policy can respond to claims involving both you and our management activities. This helps ensure:
Coordinated legal defense for both owner and property manager
Reduced out-of-pocket legal expenses
Protection of your rental income and overall investment
What types of situations could lead to a claim?
Even well-maintained properties can experience unexpected issues. Common examples include:
Water leaks or plumbing failures
Fire or smoke damage
Slip, trip, and fall incidents
Mold-related concerns
Heating or air conditioning failures
Pest-related issues (including bed bugs)
If a claim arises from any of these conditions, having proper insurance coverage in place is critical.
Important clarification
This request applies to liability coverage only (not property coverage)
Adding an Additional Insured is typically a simple endorsement your insurance provider can complete
Many carriers prefer professionally managed properties and can accommodate this request easily
Additional coverage considerations
While reviewing your policy, you may also want to explore optional protections such as:
Loss of rental income coverage
Service line (sewer/water) coverage
Mechanical equipment breakdown
Eviction expense coverage
Bed bug or pest-related coverage
Our goal
This requirement is in place to help protect both you and your investment while allowing us to effectively manage risk on your behalf.
If you have any questions or need assistance coordinating with your insurance provider, we’re happy to help.
