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Apartment Owners Insurance Information

What Is Apartment Owner’s Insurance?

As an apartment building owner, you have a responsibility to protect the buildings you own. Residents must obtain their own coverage (renter’s insurance) to protect their belongings. But, the building structure itself and common areas such as hallways and walkways, garages, swimming pool, fences, and other structures on the premises are your responsibility to protect with a landlord’s insurance policy.

What Does Apartment Owner’s Insurance Cover?

If a covered event damages your building, apartment owner’s insurance can help fund the repair costs. A comprehensive policy generally includes the following:

  • Building coverage: Protects the building structures, common areas and tools/vehicles used to maintain the property.
  • General Liability coverage: Protects you against lawsuits filed by visitors who suffer injury or property damage while in common areas. If these claims occur within a resident’s unit, it often defaults to his/her renter’s insurance.

Some policies also provide:

  • Loss of income coverage: Protects you against loss of business income in case part or all of the building becomes uninhabitable due to a covered event.
  • Business crime coverage: Protects you against losses that result from wrongdoing, such as forgery, employee theft, or theft by another party. It can also protect against vandalism.

Coverage for apartment owner’s insurance is often customizable, and there are additional coverage options beyond those listed above that can help protect your property. These can include everything from medical payments to debris removal to coverage for trees, plants, shrubs, lawns, and coverage in case the Fire Department is called to your property. We will help you determine which options best suit your needs.

Why Do You Need Landlord’s Insurance?

Whether you have a four-unit building or a 400-unit-multi-building apartment complex, your apartment building is a business. You need apartment owner’s insurance to protect yourself from financial losses and from legal liability. If your building becomes uninhabitable or sustains damage, you have a responsibility to provide your tenants with a resolution—without the proper insurance protection, you could face huge losses.

Questions to Ask Your Agent

  • What kinds of coverage do I need, and how much?
  • Should I require my tenants to carry renter’s insurance to protect their belongings?
  • What happens if my building becomes temporarily uninhabitable? How do I protect myself from losses of income?
  • Do I need protection for heating systems, cooling systems, water heaters, flooring, laundry equipment on the premises, appliances within apartment units, etc.?
  • Am I legally required to carry landlord’s insurance?

Get Started!

Get the coverage you need at an affordable rate. We work with reputable insurance companies that offer comprehensive coverage options—contact our agency for personalized assistance today!

Our Happy Customers

I've been with Cameo Insurance for years and I'm so happy with the affordable rates and outstanding customer service.
They always go the extra mile! I've referred so many family and friends and they have all signed up. Thanks Cameo!
- Evelyn P. Inglewood, CA

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614 W. Manchester Blvd Suite 202 | Inglewood, CA 90301
Phone: 310.677.8199 | Fax: 310.677.1548 |