At Stratton Agency, we specialize in providing Business Insurance solutions. We will guide you through the process and fit you with the policy that is best for you. We are able to negotiate with major insurance providers to offer you excellent coverage at the most competitive prices.

Types Of Rental Property Insurance

  • General Liability Insurance – Perhaps the most valuable type of coverage for the owner of an apartment building is general liability insurance. This will provide you with defense and protection against a third party’s liability claims of alleged or actual property damage or bodily injury. This type of coverage will also protect you against claims of negligence with regards to the maintenance and ownership of the apartment building.
  • Commercial Property Insurance – This is broad coverage that will provide you with protection against loss of an entire building, additional structures, onsite maintenance equipment, office space, common areas, loss of rental income, drainage backup, machinery and much, much more. This type of insurance will not only protect your investment property, but also the income that it generates as well.

 

  • Commercial Umbrella Insurance – With this option, you will have additional liability coverage for catastrophic events that exceed the limits of your primary Landlord Insurance policy.
  • Professional Liability Insurance – This coverage is necessary for the property managers of apartment buildings. Also known as errors and omissions insurance, this type of insurance provides protection for the tenant screening process, tenant evictions, property management and in some cases electronically performed services via the Internet.
  • Workers Compensation – Many apartment buildings will have employees that work on the premises full time. With workers compensation coverage, you will be protected and indemnified in the event that one or more of these employees becomes ill or is injured during the course of their work under your employ. In addition, if there are maintenance crews and subcontractors that perform services on you premises regularly without adequate insurance, you will have and additional blanket of security to protect you if these people are injured on your property.

Apartment Building Insurance makes sense for anyone who owns an apartment building because it can cover major disasters, liability from lawsuits that can come from common property claims and also it can insure that your income will continue if disaster does strike.

You’ve worked hard to build your income renter by renter, don’t let one event take it all away.