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.
Target Risks: (Not limited to those below)
- Risks with up to 100 units per complex and 500 units per policy
- Mixed use buildings with a commercial and residential exposure
- And more!
Ineligible for Online Quoting:
Please note we cannot offer coverage to the following:
- Risks located in AK, AL, LA, MS and WV
- Property coverage for risks located in AK, AL, FL, HI, LA, MS and WV
- Lease agreements less than six months
- Less than 70 percent occupancy rate
- More than 100 units per location or complex
- Property coverage for risks located in Protection Classes 9 and 10
- Unfenced swimming pools
Coverages Available For Apartments
- General liability available up to $1,000,000/$2,000,000 occurrence/aggregate –
- Property limits up to $3,000,000 ($1,000,000 in coastal locations)
Optional Coverage for Apartments
- Hired and non-owned auto up to $1,000,000
- Excess general liability up to $3,000,000
- Equipment breakdown
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.