Owning a residential rental property and being a landlord can be both personally and financially rewarding, but it exposes owners to a great deal of risk. Without the right apartment building insurance, owners can face serious financial harm if something goes wrong.
What are some of the risks faced by Apartment Building Owners?
The main concern for is protection for the property itself from catastrophic events. Property insurance can be complicated. Coverage and costs vary greatly depending on the building’s location and type of construction, plus several other factors.
Apartment complex insurance also needs to protect the owner from liability claims and lawsuits as well as provide coverage for lost income (rent) after a covered loss.
Here are a few examples of risks an apartment building owner faces every day:
- Fire, storms and other catastrophic damage to property
- Liability for tenant, employee and visitor injuries
- Theft or vandalism
- Loss of rental income
- Libel and slander
- Advertising liability Discrimination lawsuits filed by disgruntled tenants or employees
- Allegations of fraud, misrepresentation and other intentional acts by employees
These risks can be addressed with just a few insurance policies tailored to your needs. You need an experienced insurance agent to help you determine how much coverage you need to ensure that you are protected.
Our agency works with A Rated Companies who specialize in the coverage you need for your APARTMENT BUILDING. We can customize a program to protect one building or an entire complex. We strive to build strong customer relationships. With over 45 years of experience, we can help you find a comprehensive coverage package for your specific needs Contact us for details.
- Business Property Insurance
- Business Liability Insurance
- Business Crime
- Building Ordinance Coverage
- Equipment Breakdown Coverage
- Workers’ Compensation
- Commercial Auto
