Realty Insurance: Protecting Real Estate Properties
Whether you manage a portfolio of commercial buildings, lease out residential rental properties, or oversee multi-unit residential complexes, protecting your real estate assets is paramount. We help property owners, landlords, and property managers secure comprehensive building coverage, liability protection, and rental income.
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What Can Business Insurance Cover?
Our business insurance policies can include:
Protects property owners and managers against third-party claims alleging bodily injury or property damage. This provides critical defence and settlement coverage for common premises risks, such as slips and falls on walkways, parking lots, or common areas.
Safeguards your physical real estate assets, including commercial storefronts, multi-family apartment buildings, rental homes, and attached structures, from major financial losses caused by fire, extreme weather, vandalism, or water damage.
Provides crucial financial protection for landlords if an insured peril makes your commercial or residential property uninhabitable. When tenants must vacate during repairs, and you cannot collect rent, this coverage replaces lost rental income so you can maintain mortgage payments and ongoing fixed expenses.
Essential for modern real estate operations utilizing online tenant rent portals, digital lease applications, and electronic banking. This covers data recovery, legal liabilities, and notification expenses following a ransomware attack or data breach involving sensitive tenant personal and financial records.
This is an optional, additional coverage that can be purchased.
Compensates property owners for lost operating income, payroll commitments, and fixed overhead costs if your overall property management business or leasing operations are temporarily suspended due to property damage from a covered event.
This is an optional, additional coverage that can be purchased.
PERSONAL LINES
Owning a rental property is a major investment, but managing your risk doesn’t always require a complex commercial policy.
If you only own up to 4 or 6 properties, or if your rental building contains 6 suites or fewer, a personal lines landlord policy can offer the targeted protection you need for property damage, liability, and lost rental income without commercial overhead.
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Join Our Realtor Referral Program
Partner with Harvard Western Insurance. Refer your home buyers to us, and when they purchase a home insurance policy, you will receive a $50 gift card to Crave Kitchen & Wine Bar [Regina].
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Expertise You Can Trust
Proud Members of BOMA Saskatchewan
As proud members of the Building Owners and Managers Association (BOMA) of Saskatchewan, we are deeply embedded in the province’s commercial real estate industry. This alignment allows us to actively engage with local property management professionals, building owners, and asset managers to stay at the absolute forefront of industry developments.
The BOMA Advantage for Your Properties:
- Direct alignment with Saskatchewan building standards and best practices
- Proactive risk insights based on local property management trends
Frequently Asked Questions
Can I use standard home insurance for a rental property in Saskatchewan?
No, standard homeowner policies only cover owner-occupied residences. If you lease out a residential or commercial building to tenants, you must secure dedicated rental property or commercial realty insurance. A standard policy will not cover tenant-related liabilities or property losses, and failing to disclose rental operations could completely void your coverage.
How does rental income insurance protect landlords during building repairs?
If an insured peril, like a fire or major water break, makes your building completely uninhabitable, your tenants will be forced to vacate and stop paying rent. While property insurance pays for the physical repairs to the structure, rental income coverage steps in to replace that lost cash flow, allowing you to seamlessly maintain your mortgage payments and property taxes while construction is underway.
Does standard real estate insurance cover short-term rentals like Airbnb or Vrbo?
Standard residential rental policies are designed for long-term lease agreements and explicitly exclude business exposures like short-term or vacation rentals. Operating an Airbnb or Vrbo property requires a specialized short-term rental endorsement to adequately protect you against liability risks.
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