(888) 900 0205Apartment Building Insurance
Owning an apartment building comes with its share of risks, and having the right apartment building insurance can give you greater peace of mind as a landlord. Apartment building insurance can help protect you from many covered events, such as fire, wind, and certain types of storm damage. However, common catastrophes like flood or earthquake are usually not covered under a standard policy and often require separate coverage, depending on your insurer and state. ¹
General Liability for Apartment Buildings
General liability insurance for apartment buildings helps protect you if a third party (such as a tenant or visitor) claims bodily injury or property damage caused by your operations.
For example, if a tenant’s guest slips in a common area and sues, this coverage may help with legal defense, medical bills, and covered settlements.
Business Owner's Policy (BOP) for Apartment Buildings
A Business Owner’s Policy (BOP) for apartment buildings bundles general liability and property insurance into one package. It covers physical property, such as the building itself, as well as liability risks.
For instance, if a fire damages part of the building, the BOP would help cover the repair costs, while also protecting you from claims if a tenant sues for losses related to the incident.
Eligibility and available limits vary by carrier and state!
Excess Liability for Apartment Buildings
Excess liability insurance, or umbrella insurance, provides extra coverage beyond the limits of your standard liability policy. If a lawsuit exhausts your general liability coverage, excess liability steps in.
For instance, if a large fire results in significant damage and a tenant lawsuit goes beyond your regular policy limits, this coverage would protect you from having to cover those costs out-of-pocket.
Safe Practices for Apartment Buildings
- Conduct regular inspections of common areas. hud.gov
- Maintain proper lighting in all hallways and entryways.
- Post clear signs to indicate wet floors or hazards.
- Ensure all building systems, such as elevators and fire alarms, are regularly serviced.
- Provide tenants with emergency contact numbers and safety protocols.
Why choose us
Numbers that prove it.
Independent. Licensed in all 50 states. Backed by partnerships with the carriers that matter to your business.
1,000+
Trades Insured
18+
Years In Business
240+
Years In Business
Our Partners
We partner with A-Rated AM Best Insurance Companies (ratings subject to change)
