If you own a multi-family unit, condominium, student housing or any other habitational building, then you already know the unique risks involved with these types of properties. In order to fully protect your buildings and those who live in them, you need specialized insurance coverage. This is where habitational insurance carriers come in.
Coverages to Look For
When it comes to habitational insurance, you need liability and property solutions that make sense. The options have to address specific habitational risks. While general liability and commercial property are two coverages that most businesses need, there are many other specialized coverages to consider. These policies include:
Excess liability coverage
Custom equipment coverage
Law and ordinance coverage
Environmental impairment liability coverage
Cyber liability coverage
Hired & non-owned auto coverage
Additional insured coverage
Directors liability coverage
Of course, these aren’t the only coverages that you may need. Every business and the habitational facility has different needs that the insurer needs to address.
When it comes to owning multi-family units, you have inherent and specific risks that you have to manage. Without the right insurance carrier, managing risks is near impossible. This is why it’s crucial for all building owners to look into habitational insurance carriers for specialized insurance options and customizable policies.