Apartment Building Owners Insurance
Apartment building insurance — written as a commercial habitational policy — protects residential income property owners from the exposures that come with renting units to the public. Unlike a standard homeowners policy, a commercial habitational policy provides building coverage at replacement cost…
Key Coverages for Apartment Building Owners Businesses
- Building coverage at replacement cost — including appliances and fixtures in units
- Loss of rental income when units are uninhabitable after a covered loss
- Commercial general liability for premises slip-and-fall and tenant injury claims
- Equipment breakdown for boilers, HVAC, elevators, and central systems
- Crime coverage for employee dishonesty and building fund theft
- Umbrella/excess liability above the primary GL limit
Frequently Asked Questions
Is apartment building insurance different from homeowners insurance?
Yes. A standard homeowners policy is designed for owner-occupied residences and excludes rental income properties. A commercial habitational policy covers the building at replacement cost, loss of rental income, and premises liability for tenant inju…
Does my policy cover damage caused by tenants?
Standard commercial property policies cover most perils including tenant-caused incidents like accidental fire. Intentional tenant destruction is typically excluded, though landlord malicious damage endorsements are available from some carriers. Secu…