How much does Apartment Building Insurance cost? Average premiums by business size, industry, and state — plus the key factors that drive your rate up or down.
Apartment building insurance protects multi-unit residential properties — covering the building structure, landlord liability, loss of rental income, and additional coverages for natural disasters and equipment failures essential for property owners and investors.
Apartment building insurance (also called multi-family or landlord insurance) covers residential rental properties with 5 or more units. It protects the building structure, provides landlord liability coverage for tenant and visitor injury claims, covers loss of rental income during covered repairs, and can include equipment breakdown, flood, and earthquake. Buildings under 5 units are typically covered under a dwelling fire policy. Premiums range from $2,000/year for small buildings to $100,000+/year for large apartment complexes.
| Business Size | Annual Revenue | Typical Premium | Notes |
|---|---|---|---|
| Small Multi-Family (5–15 units) | Under $250K gross rent | $2,000–$8,000/yr | Dwelling fire or commercial property policy. Essential coverages + loss of rental income. |
| Mid-Size Apartment Building (16–50 units) | $250K–$750K gross rent | $6,000–$25,000/yr | Commercial property policy. Consider umbrella + equipment breakdown. |
| Large Apartment Complex (51–200 units) | $750K–$3M gross rent | $20,000–$80,000/yr | Full commercial program: property + GL + umbrella + loss of income + equipment breakdown. |
| Portfolio / High-Rise (200+ units) | Over $3M gross rent | $50,000–$500,000+/yr | Blanket portfolio policy or per-building scheduled program. Risk management program essential. |