Are you currently paying a high premium?
We can help you reduce the cost of insurance. Call us today at 866-454-9555. All Inquiries are Welcome.
Special Rate for apartments with Construction Cost up to $10 Million including Hurricane located west of I-95.
What is Apartment Building Insurance?
Apartment building owners have one thing in common; they all need to be protected from any frivolous legal lawsuits, hurricanes, floods, fire, water damage, tropical storm, and vandalism.
What we can do for you.
Since 1987, we have helped thousands of clients like you save money on their Insurance providing at the time adequate insurance coverage customized to accommodate your property protection.
Whether you own a large complex, medium, or small apartment building in Florida, newer or older construction, we can structure an affordable apartment building Insurance package deal, including hurricanes.
What does Apartment Building Insurance Policy Cover:
- Building – this policy protects your apartment building against a common cause of loss, such as water damage, flood, hurricane, tropical storm, tornadoes, fire, and vandalism. An up-to-date apartment appraisal is required to ensure the property is at 100% of its replacement cost.
- General Liability – Policy provides liability protection against any lawsuit filed in the court by your tenants or a visitor walking on your premises. In this case, the apartment owner is legally obligated to pay monetary damages resulting from bodily injury and property damages to the tenant. This policy also covers personal injury that includes wrongful eviction by your property manager. Additionally, your employees are covered for any liability exposures while engaged in business-related activities.
- Contents – this policy does cover all contents belonging to your apartments such as electrical equipment and ground-keeping equipment located on your property, which is used for the maintenance of the building.
- Hurricane and Windstorm – Policy protects your apartment caused by a named hurricane or windstorm against any major natural disaster. A 5% deductible is applied based on your insurance policy limit.
- Building Glass – covers all your apartment glasses against any related accident that occurs on-premises.
- Equipment Breakdown – such coverage is specifically needed for an older apartment to protect all types of mechanical and electrical equipment located on-premises, such as a boiler, elevator, water heater, and air condition units.
- Commercial Umbrella – Policy provides a higher liability limit of up to $20 Million to increase further liability protection to apartment owners, in the event the court awarded higher settlement over and above the underlying policy limit of one million.
- Loss of Rent – this endorsement reimburses apartment building owners in the event the unit is damaged due to covered perils and becomes not livable anymore. In this case, the tenant was forced to move out. This policy compensates apartment owners for the loss of rent.
- Workers Compensation – This policy covers your employees in the event an employee gets injured on the job during working hours. This policy covers his medical bills and loss of income during his recovery.
8 factors to save money on your Apartment Building Insurance:
- Update all electrical wiring to be up to code.
- Install a 4 feet fence around the swimming pool.
- Free of any property and liability losses in the past 3 years.
- Maintain a continuous insurance policy with no lapse of coverage.
- Premium discount available for updated roof within the last 10 years.
- Install a central fire alarm in each unit and a surveillance camera around the apartment.
- Additional premium discount is available if you have fire sprinklers installed in each unit.
- Hire a maintenance supervisor to perform daily maintenance and fix any necessary mechanical problem that might occur.
What we can do for you?
G. Zein Insurance Services is specialized in apartment building Insurance since 1987. We work diligently on your behalf to lower your insurance cost, by ensuring your apartment building through reliable insurance companies; so you can have peace of mind knowing that you are financially protected if a loss occurs.
Moreover, we stand with you during mitigating property claims at the time of a loss.
Check our rates before you renew your current policy.
To find out today how much it cost to insure your rental property in Florida, please fill out a request form today to receive Apartment Building Insurance Quotes. Or, feel free to call us now at (866) 454-9555 or (954) 454–9599, to discuss options on how to help you save money before renewing your current policy.