Apartment Owners Insurance
Being an apartment owner, your property is a big investment. If you depend on the apartment for your income, you understand the importance of an insurance policy for your building, which would cover you against risks and damages that threaten the security of the inhabitants. It can also protect you with loss of income coverage if you cannot collect rents due to a covered claim.
Since an apartment owner is liable for anything happening on their property.
- The building owner is liable for an injury to a tenant or guest on the property.
- The apartment owner is liable for any structural damages that prevent the building from meeting regulations and codes.
- The building owner is liable for maintenance, theft, fire that might occur in their apartment.
Therefore, apartment owners insurance is very necessary.
Apartment Owner Insurance Coverage
- employers liability
- medical expenses for injured guests and tenants
- fire and theft
- advertising injury to others
- mechanical breakdown of equipment
- crime, employee fraud, theft of property
- services of a professional required for the proper maintenance of the building
- fee services
- loss of income coverage
Apartment owners insurance covers all types of structures and facilities, including storage buildings, garages, swimming pools, and fences.
Eligible Apartment Risks
- Hotels, motels
- Apartment buildings
- Multi-unit buildings
- Garden apartments
- Town houses
- Nursing homes
- Boarding houses
- Assisted living facilities
- Rehab facilities
Some of the risk factors taken into consideration for apartment owners insurance coverage include age of the apartment, construction type, occupancy type, proximity to fire department, nearness to coastal areas, updates to critical systems, and fire protection measures.
Call us now to get cheap rates on Apartment Owners coverage. You will be glad your did!