Apartment Building Insurance is a specialty package policy provided for landlords of multifamily type properties. This type of policy will include both Property & Liability coverage and is commonly offered on a Business Owners Policy or BOP.
The property coverage included on the Apartment Building Insurance policy can provide coverage for the Building, Contents owned by the landlord, and Business Interruption or Loss of Rents.
To determine the appropriate amount of building coverage needed, we utilize replacement cost estimator programs provided by the different insurance carriers.
For business personal property or contents, that will depend on the amount of property you have at your property. If you own a smaller property with no onsite management nor recreation facilities, you may not have contents coverage.
The coverage that can keep you afloat while your building is being rebuilt, is the business income, or loss of rents. This coverage continues to pay you as if your building were still occupied, and your tenants were paying rent.
Reach out to me when you’re considering Building Insurance. I will provide you with comparative Building Insurance quotes from multiple insurance carriers so you can get the best possible combination of coverage and cost.
As a Building Insurance Broker I help property owners manage risk through Building Insurance.