Apartment Complex Insurance
Comprehensive property and liability coverage for multi-family rental buildings — protecting your investment, your income, and your future.
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What is apartment complex insurance?
Apartment complex insurance is commercial property coverage designed specifically for owners of multi-family rental buildings — from duplexes and fourplexes to large apartment communities. It protects both the physical structures and your rental income.
Unlike standard landlord policies for single-family rentals, apartment complex insurance is built for the unique risks of multi-unit properties: multiple tenants, common areas, shared systems, and the significant revenue exposure if units become unrentable. It combines property coverage, liability protection, and loss of rent into a comprehensive package.
Property coverage vs. liability protection
A complete apartment complex policy protects both your physical investment and shields you from legal exposure. Here's what a comprehensive policy includes:
Property Coverage
- Building structures and units
- Roofs, foundations, exterior walls
- HVAC, plumbing, electrical systems
- Common areas and amenities
- Parking lots and landscaping
- Appliances and fixtures in units
Water Damage
Water damage from burst pipes or appliance leaks may not be fully covered by standard policies. Review your policy carefully — coverage varies by carrier and cause of loss.
Liability & Additional Coverage
- General liability - $1M+ recommended
- Tenant injury claims
- Property damage to others
- Loss of rental income
- Legal defense costs
- Umbrella/excess liability options
Commercial Flood Coverage
Standard property policies do not cover flood damage. In Florida, separate commercial flood insurance is essential to protect your buildings and rental income from flooding.
Important: Coverage limits should reflect your property's full replacement cost and potential rental income. We'll help you determine the right limits based on your specific buildings and revenue.
What does apartment complex insurance cover?
Building Property
Covers all physical structures — building exteriors, roofs, foundations, interior unit finishes, common areas, and fixed equipment. Pays to repair or rebuild after fire, wind, vandalism, and other covered perils.
Business Personal Property
Covers property you own that's used in running the complex — maintenance equipment, office furniture, appliances in units, laundry machines, and pool equipment. Protects your operational investments.
General Liability
Protects you if a tenant or visitor is injured on your property. Covers slip-and-fall accidents, dog bites, playground injuries, and other liability claims up to your policy limits.
Loss of Rental Income
If units become unrentable due to a covered loss, this pays for the rental income you lose while repairs are being made. Critical protection for your cash flow and mortgage obligations.
Common questions about apartment complex insurance
What's the difference between landlord insurance and apartment complex insurance?
Landlord insurance (DP3 policies) is designed for single-family rental homes. Apartment complex insurance is commercial property coverage built for multi-unit buildings — it offers higher limits, covers common areas and amenities, and includes loss of rental income for multiple units. Once you have four or more units, most carriers require commercial coverage.
How much does apartment complex insurance cost in Florida?
Premiums depend on building value, number of units, age and construction type, location, and claims history. Florida's wind exposure significantly affects rates. Small complexes (4-10 units) might pay $5,000-$15,000 annually, while larger properties can be significantly more. We compare quotes from multiple carriers to find competitive rates.
Should I require tenants to have renters insurance?
Yes, it's strongly recommended. Requiring renters insurance protects tenants' belongings (which your policy doesn't cover) and provides them with liability coverage. Many apartment owners make it a lease requirement — it reduces your exposure and ensures tenants can recover from losses.
What is loss of rental income coverage?
If a covered loss (fire, storm damage, etc.) makes units unrentable, this coverage pays the rent you would have collected while repairs are made. It's essential for maintaining cash flow and meeting mortgage payments during extended repair periods.
Do I need separate flood insurance?
Yes. Standard property policies don't cover flood damage. In Florida, commercial flood insurance is essential — even properties outside high-risk zones can flood. We can help you find NFIP or private flood coverage based on your buildings' exposure.
What liability limits do I need?
Most apartment owners carry at least $1 million in general liability, but $2 million or higher is common for larger properties. We often recommend adding a commercial umbrella policy for $1-5 million in additional protection — the cost is modest compared to the exposure you're eliminating.
Florida commercial property carriers we work with
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We compare rates from multiple commercial carriers to find the right coverage for your multi-family property. No pressure, no jargon — just clear options.