When you own a multi-family dwelling or apartment complex, you could be worried about having the right protections. Working with the best Tarzana apartment building insurers is the best way to give you the coverage without everything getting complicated. The team at Haddajian Insurance Agency is here to help with everything from landlord insurance quotes or renters insurance for your tenants and more!
As a landlord, you can face many risks from a property and liability standpoint. Apartment complexes are not cheap, so finding the best apartment insurance coverage for your building is the best way to know you have everything handled. It is good to get quotes that you can compare to get the most for your investment and protect yourself from certain risks. There are also many types of apartment building insurance options to consider, so we are happy to go over the main choices with you, including:
General Liability Insurance
This is elemental coverage. When you are a landlord, you have responsibilities to maintain apartment building common areas, including things like:
- And more
You could be held liable should someone get hurt for any reason in these common areas. The last thing you want is to get sued for it. General liability coverage is something Tarzana apartment building insurers will offer to get you the help necessary should you have an injury claim or lawsuit against you.
Another coverage to consider is property insurance. You own the building, which is a big investment. Your property insurance coverage protects you should the building be damaged by any covered loss. Due to all of the possible disasters that could bring significant damage, property insurance becomes very helpful for you as the owner. Issues typically covered include:
- Weather damage
Business Income Insurance
Many apartment complex owners may not think of business income insurance, but this could help protect you from financial issues should your tenants become forced to leave when there is a covered loss. During this time, you will not be collecting any rent since you cannot expect tenants to pay for an apartment they cannot live in.
Also known as business interruption insurance, business income coverage helps reimburse you if you lose income while the building is not in commission. This makes it, so you do not have to worry about the inability to collect rental income when the building is being restored or rebuilt.
Do you still have questions regarding apartment complex coverage and your options? When you need to know that you have Tarzana apartment building insurers you can trust, you can always talk to us at Haddajian Insurance Agency. We have a team of insurance experts ready to assist, including offering a free quote and a customized plan to get you the exact coverage you are looking for. Give us a call at (818) 643-2345, and we can go over any questions or concerns you may have when it comes to coverage for your multi-family dwelling or apartment complex.