Real estate insurance in Morton, Peoria, Bloomington and throughout Central Illinois.

Real Estate – Property – as an investment tool is a powerful and tangible piece of your portfolio. And guarding against risk in that portfolio is more than just knowing about replacement cost and loss of rents. It means understanding the minutiae. We’ll make sure you do.

Explore this interactive graphic and learn about your unique risks and the related insurance solutions.

Auto

Errors and Omissions Insurance (E&O)

Risk Factor

Property management firms have many exposures that can lead to a lawsuit. Dealing with boards of directors, owners, residents, employees, vendors and regulatory authorities can and often does lead to lawsuits.

Solution

Errors and omissions liability insurance protects property management firms if a client alleges that you were professionally negligent or failed to perform professional duties.

Commercial Property Insurance

Risk Factor

Property management firms may face serious financial consequences from property loss by fire, wind or other causes.

Solution

A business owners policy (BOP) or package policy providing commercial property insurance will provide coverage for damage to a building you own, along with coverage for personal property and income lost due to a covered cause of loss.

General Liability

Risk Factor

Property management firms can be sued for injuries or property damage at their office and sometimes at the properties they manage.

Solution

General liability insurance is an absolute necessity for any property management firm. It provides coverage for legal fees and judgments when the firm is named in a covered lawsuit for bodily injury, property damage, associated medical costs and more.

Crime and Fidelity Coverage

Risk Factor

As a property management firm, you have access to your clients’ money. Illegal activity such as forgery or theft can occur.

Solution

Crime and fidelity coverage is designed to provide coverage for theft of not only money and personal property owned by the firm, but money that the firm has in their custody for their clients.

Cyber Liability Insurance

Risk Factor

Property management firms have exposures including the need for protection of privacy, data and financial information for their clients. Breach of data can result in costly fees and lawsuits for the association if held liable.

Solution

Cyber liability coverage covers fees and lawsuits resulting from the breach of personal data in the event your firm is liable.

Hired and Non-Owned Auto Liability Insurance

Risk Factor

Property managers must drive to the sites they manage regularly. Accidents can and do happen. If an employee were to get into an auto accident while working, the management firm could be named in a suit by the injured party.

Solution

If any automobiles are owned by the property management firm, a commercial auto insurance policy should be obtained. In addition, hired and non-owned auto liability should be maintained in any case to provide coverage in the event an employee gets into an accident while using their own car.

Let’s discuss your construction insurance.

One of our insurance advisors will reach out to you to review your information and present you with the appropriate real estate insurance solution. There’s no obligation, just good-old-fashioned advice.
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Ledgestone Insurance Group offers comprehensive real estate insurance in Morton, Peoria, Bloomington and throughout Central Illinois.