One of the most difficult aspects of owning property is to maintain all necessary insurance to protect your interests as owner. Initially, title insurance is obtained on an acquisition. Liability insurance is critical, particularly for the benefit of a developer of a project; any building defect issues that arise later should be covered by such insurance. Contractors performing work at the project should add the owner as additional insured. Also, most leases require tenants to have liability and property insurance in place during the term of the leases; owners should have a system in place to closely track these obligations. Workers compensation insurance is critical, and owners should consider excess liability umbrella coverage.