With over thirty years of experience in Apartment Insurance Policies, we understand your business and can help you will all the coverage’s you need. From the General Liability package which includes property coverage and business income due to a loss to the professional liability for condo associations. With our experience we shop insurance carriers that love to write insurance for Apartment Complex’s.
Apartment Insurance – General Liability
General Liability Coverage covers you against claims resulting from your business operations due to bodily injury or property damage to others. This is an important coverage for any Apartment Insurance package and should always be purchased and is generally included within a business owners package. You will find that the Apartment’s General Liability will protect your business from everything from slip and falls to other accidents you may cause. With our Apartment Insurance carriers you will find great coverage while not paying an arm and a leg.
General Liability Limits of $1 million per occurrence / $2 million aggregate are standard for Apartments with an option for higher limits of $2 million per occurrence / $4 million aggregate available for some Apartments Complex’s. You also have the option to purchase a lower limit of liability or an Umbrella – which can increase your limits of liability here.
All policies include; Advertising Injury and Personal Injury, Medical Payments for $5,000 per person., Damage to Premises Rented to You is included up to $300,000, as well as blanket contractual liability for all insured contracts. Products/Completed Operations coverage is included and subject to the General Aggregate.
Some of these policies will also include host liquor liability. Web coverage for Web site injury liability (some restrictions apply). The Apartment Insurance general liability limits are pretty standard, just contact us for an insurance quote or if you have any questions on how this part of the Apartment Insurance package works.
Apartment Insurance – Property Highlights
When it comes to Apartment Insurance most people think about Property Insurance. Property Coverage insures your Building and and contents you would have within it. With an Apartment Complex this may include appliances in the unit’s kitchens or contents in the common area’s. It protects the Apartment Complex from such risks as Fire, Vandalism, Hail, and you may also purchase Earthquake, Flood, or Wind coverage.
Now, with Apartment Insurance we insure the Personal Property in the Apartment Complex for replacement cost and generally for our preferred accounts there is no coinsurance. The Apartment Insurance package can include Outdoor Trees, Shrubs and Plants coverage provided for all covered causes of loss up to $3,000 depending on the policy.
Embedded coverage can be included for mechanical breakdown of vital building maintenance systems, such as boilers and air conditioning systems. The extra costs associated with these types of claims (pollutant clean-up and expediting expenses) can be included up to $25,000.
Service interruption to your water or power supplies, caused by equipment breakdown, may also be covered. Your power generating equipment is covered up to $100,000 for a covered breakdown.
Business Income and Extra Expense is a very important coverage in the Apartment Insurance package – This covers income that is lost due to suspended operations caused by damage at your building from a covered cause of loss. This is an optional coverage, but one that we highly recommend.
No broker fees and low prices for all Newer and Good Condition Complex’s that can be written with 90% of our companies. We give our clients the max discount, so you start saving right away. With many insurance companies we have the ability to give you an Apartment Insurance package at a low cost – and we can re-shop this in coming years to provide you with the best prices.