Insurance – Additional Insured Requirement

What to do:

• Ensure your insurance policy lists:
  Sage Properties 518 LLC
  402 Feura Bush Road #55
  Glenmont, NY 12077
  as an Additional Insured.

 

Why it matters (for you as the owner):

• Full protection: If a tenant, vendor, or third party files a claim, Additional Insured status allows us to work directly with the carrier on your behalf. This leads to faster resolution, fewer delays, and reduced personal risk.

• Lower costs: Without this coverage, Sage must place your property on our master liability policy at a cost of $37 per unit, per month. This is far more expensive than simply ensuring your own policy is written correctly.

• Uninterrupted management: Our management agreement states that in the absence of a properly written policy naming Sage as Additional Insured, management services pause immediately until coverage is corrected. During that time, you would have no active management protection.

• No coverage gaps: Additional Insured ensures that property management activities (leasing, maintenance coordination, tenant interactions) are covered. Without it, claims may fall solely on you.

• Keeps management fees low: Our ability to keep pricing well below market depends on avoiding unnecessary insurance costs. Compliance here directly saves you money.

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Important distinction:

• Additional Insured = correct coverage. Protects both you and Sage, allows us to act on claims, and prevents unnecessary fees.

• Additional Interest = not enough. It only means we receive copies of notices. It does not extend coverage to property management activity.

 

A note on insurance agents:
Some agents who are not investor-focused may push back on this requirement. However, it is quickly becoming an industry standard — precisely because it saves owners money and streamlines claims handling. If your current carrier refuses, we recommend speaking with an investor-friendly agent (see list below).

Common question:

• “Do I add Sage as an Additional Insured on their policy?”
  → No. Our entire master policy is already written to protect this process. We submit your property addresses and are audited annually to confirm compliance. What’s required is that your property’s policy names Sage as an Additional Insured.

 

Resource:
👉 Why Property Managers Must Be Listed as Additional Insured

 

Local Insurance Options:

• Empire Insurance (Albany, NY) – Joe Dicaprio – joe@myinsuranceguy.agency – 518-350-0511

• Brickhouse Insurance (Albany, NY) – Andrew Pope – 518-818-4949 – Website

• Leatherstocking Insurance (Albany, NY) – 

• Doug Neil Insurance (Clifton Park, NY) – 518-348-6420 – Website

• State Farm (Glenmont, NY) – James Leone – 518-599-5500 – Website

• Sterling Insurance (Albany, NY) – Andrew Pope – 518-412-4244 – Website

• Travelers (Troy, NY) – Degenero Insurance – 518-283-1164 – Website

• Utica National Insurance (Albany, NY) – 518-862-6200 – Website

• USAA (National) – 210-531-8722 – Website