Insurance for Apartments

We target single or multiple location apartment buildings up to 100 units per location and 500 units per policy. Our broad eligibility includes swimming pools, fitness centers, clubhouses, lakes/ponds, playgrounds and sport courts.

Ineligible Apartments

Please note we cannot offer coverage to the following:

• Risks that permit or use wood stoves, space heaters or temporary heating devices
• Risks located in protection classes 9-10 are not eligible for property
• Rooming or boarding houses
• Risks with any swimming pools on premises
• Risks with student or subsidized residents
• Property coverage for mobile homes
• Apartments being converted to condos
• Lease agreements for less than six months
• Assisted living facilities
• Risks with less than 70% occupancy rate
• Risks located in AL, AK, LA, MS or WV
• Property coverage in FL (unavailable with this product)

Available Coverage for Apartments

• General liability coverage is available up to $1,000,000/$2,000,000
• Property coverage is available up to $3,000,000 total insured value and up to $500,000 excluding wind and hail in coastal regions
• Commercial umbrella is available up to $3,000,000

Optional Coverage for Apartments

• Money and securities coverage
• Equipment breakdown
• Glass
• Signs
• Hired and non-owned auto liability

Claim Example for Apartments

Property: A fire began at the insured’s premises, due to an unattended candle left burning by one of the tenants. The damage resulted in a fire that caused $65,000 in building damage. In order to repair the damage, the apartment had to be evacuated for 2 months, resulting in the loss of rental income for the insured.

General Liability: A repairman tripped and fell while walking down the hallway stairs. The repairman sustained a broken wrist and $2,500 in medical expenses. A hose on the dishwasher located in the 3rd floor apartment unit ruptured causing water to leak through to the 2nd floor apartment unit. This caused damage the tenants television, sofa, and pictures. The resident sued the apartment owner for negligence resulting in a property damage loss of $10,000.

Equipment Breakdown: The piping within the hot water heater ruptured from over usage, causing the apartment to be evacuated for 2 days until repairs could be made. An equipment breakdown claim was made.