Landlord Insurance

Owning apartment buildings is often a lucrative and rewarding business opportunity. Risks, however, can threaten your property, endanger the lives of your employees and residents, and potentially interrupt your income stream. Apartment owner insurance will protect you in case something goes wrong and give you the peace of mind to run your business.

Apartment owner insurance protects you from a wide variety of the risks that you face, stemming from weather events and natural disasters, the improper acts of others (theft, vandalism, employee misconduct), and potential claims from injured or disgruntled residents. On any given day a fire could break out, your building could be burglarized, a resident could get injured and sue you, or an employee could make a mistake resulting in a claim against your business.

What is the Claims Process?

The process of filing claims is essentially the same for apartment owner insurance as it is for other types of insurance. Should an incident occur, you begin by contacting your agent and requesting to file a claim. An adjuster will be assigned to evaluate the damage or other claim, and then work with you to provide a payout amount. The payout will be reduced by the amount of the deductible.

Major risks include:

Weather events (hail storms, tornadoes, lightning strikes, wind damage, etc.)
Fire
Vehicle Accidents
Theft
Vandalism
Employee claims (discrimination, wrongful termination, etc.
Tenant claims due to property damage or personal injury

Like most types of insurance, the cost is far lower than the amount of one major loss, so having an apartment owner’s insurance is an absolute must. But, the amount of coverage you need will vary and we can work with you to make sure you have the right amount.