What is Apartment Building Insurance?
Running multi-unit residential investment properties requires a significant outlay of both time and capital, and the resources that are poured into these properties ought to be protected. Apartment building insurance policies help protect investors who operate multi-unit properties in Massachusetts from a variety of covered perils.
Apartment building insurance policies are similar to landlord insurance policies, but there are some differences between the two. Generally speaking, apartment building policies tend to be better adjusted for the increased risks that come with owning larger properties. They frequently have many coverages available, and the coverages often have high limit options.
What Massachusetts Businesses is Apartment Complex Insurance Right For?
Most businesses that invest in multi-unit residential investment properties in Massachusetts can benefit from the protections that apartment complex insurance policies offer. Few property owners could sustain a major loss or lawsuit without suffering significant financial consequences, and this is normally the most appropriate type of insurance for these buildings.
Personal investors who purchase smaller multi-unit properties, such as duplexes, should speak with an insurance agent who specializes in apartment complex and landlord policies about their particular situation. Sometimes a landlord policy is better suited for these situations, but other times the additional protections that an apartment complex policy affords are needed or desired.