A Multi-Family Apartment Building Can be a Great Investment. Make Sure You Protect It!

Written by on 6/23/2015 10:00 AM . It has 3 Comments.

No one goes into business or makes a large financial investment in order to lose money. Whether it’s long-term financial security or simply an entrepreneurial spirit, you bought a multi-family apartment building for a reason. Make sure you protect your investment with the right insurance coverage.

SPEND A LITTLE MORE TO SAVE IN THE LONG-RUN

The urge to purchase the easiest, least expensive policy is very real for many rental property owners. It’s hard to believe that natural disasters may affect you or that a tenant might sue. With the wrong insurance coverage, you may find yourself facing insurmountable costs for repair, replacement, medical expenses, and more.

Look for all-risk insurance policies instead of the named-peril policies. Our agents will work with you to find as broad a policy as possible. The best policy is the one with the least exclusions, because anything that can happen, will happen. Look for a policy that covers damage from fires, explosions, earthquakes, tornados, and hurricanes, but understand that policies may exclude one or all.

To know what kind of coverage you’re likely to need, review the property’s history, especially if you’re a new owner. Determine what, if any, natural disasters have affected the property in the past. Look to see if there have been any previous liability issues and whether they’ve been corrected or not. Do your best to make sure that you purchase a policy that doesn’t exclude known issues or previous natural disasters. Understand that your coverage can and will be affected by your location. If you live in areas where hurricanes or earthquakes are a reality, your costs may be higher or your policy may include more exclusions.

WHAT SPECIFICS SHOULD YOU LOOK FOR IN YOUR POLICY?

In the long-run, replacement value coverage may cost more, but it will give a better return in the event damage or destruction occurs. Work with your agent to find a policy with full-replacement costs included. Some disasters may impose specific limits, especially if you live in an area prone to certain issues.

Business interruption insurance is typically included in your policy. Make sure you know the limits and restrictions. If something happens to limit the amount of income you can take in from tenants, you’ll want to know if you can recoup the lost income.

As a business owner, (and owning an apartment community is a business) you’ll want to make sure you that have a Charlotte liability insurance policy in place. This will cover any claims brought against you for damage or injury that occurs to a third party while on your property. If someone slips and falls at the pool or damage occurs to a unit during routine maintenance, you may be responsible for medical costs, replacement costs, or repairs. General liability coverage covers those costs and should be included as part of your insurance portfolio.

Don’t let poor insurance coverage be the reason you don’t see a return on your multi-family apartment building investment. Contact us for a quote or to review your current policy. We want to make sure you and your property are protected.

Image courtesy of Flickr user NNECAPA Photo Library.

Comments

Got something to say? Join the discussion »
  1. yanxia39's avatar yanxia39
    http://www.adidasnmdrunnerr1.us.com/ yeezy 750
    http://www.hermesbirkin-handbags.us.com/ hermes handbags
    http://www.pandorajewelryscharms.us.com/ pandora charms
    http://www.nikeairmax-90.us.com/ air max 97
    http://www.nikeairvapormaxflyknit.us.com/ nike flyknit
    http://www.lebron15-shoes.us.com/ lebron james shoes
    http://www.yeezyboost350shoes.us.com/ yeezy boost 350
    http://www.longchampbag.us.com/ longchamp le pliage
    http://www.jordans11shoes.us.com/ jordan 12
    http://www.jordan11spacejams.us.com/ air jordan
    http://www.airmax90shoes.us.com/ air max 95
    http://www.birkenstocksandalssale.us.com/ birkenstock
    http://www.katespadepurses.us.com/ kate spade laptop bag
    http://www.curry4-shoes.us.com/ under armour stephen curry
    http://www.adidas-ultraboost.us.com/ adidas ultra boost women
    http://www.kyrie-4.us.com/ kyrie irving shoes
    http://www.pumafentyrihannashoes.us.com/ fenty puma slides
    http://www.fitflops-sale.us.com/ fitflop uk
    http://www.adidasyeezy-350.us.com/ ultra boost mens
    http://www.pandora-jewelrysale.us.com/ pandora rings
    http://www.fitflopsshoes.us.com/ fitflop
    http://www.louboutinredbottoms.us.com/ christian louboutin sale
    http://www.pandorajewelryrings.us.com/ pandora bracelet
    http://www.salomonspeedcross3.us.com/ salomon speedcross 4
    http://www.kd10-shoes.us.com/ kd 9 elite
    Reply 4/28/2018 2:39 AM
  2. changhon62's avatar changhon62
    http://www.adidasyeezy-350.us.com/ adidas boost
    http://www.jordan11spacejams.us.com/ jordan 11 space jam
    http://www.salomonspeedcross3.us.com/ salomon xa pro 3d
    http://www.kd10-shoes.us.com/ kd 5
    http://www.airmax90shoes.us.com/ nike air max 95
    http://www.adidasnmdrunnerr1.us.com/ nmd
    http://www.katespadepurses.us.com/ kate spade handbags
    http://www.hermesbirkin-handbags.us.com/ hermes bag
    http://www.longchampbag.us.com/ longchamp le pliage
    http://www.fitflops-sale.us.com/ fitflop shoes
    http://www.lebron15-shoes.us.com/ lebron 10
    http://www.adidas-ultraboost.us.com/ ultra boost mens
    http://www.louboutinredbottoms.us.com/ red bottom shoes for men
    http://www.jordans11shoes.us.com/ jordan 13
    http://www.pumafentyrihannashoes.us.com/ puma shoes
    http://www.pandorajewelryrings.us.com/ pandora necklace
    http://www.curry4-shoes.us.com/ curry 2
    http://www.nikeairvapormaxflyknit.us.com/ nike air max 2017
    http://www.pandorajewelryscharms.us.com/ pandora
    http://www.nikeairmax-90.us.com/ nike air max 2016
    http://www.birkenstocksandalssale.us.com/ birkenstock
    http://www.pandora-jewelrysale.us.com/ pandora jewelry official site
    http://www.yeezyboost350shoes.us.com/ yeezy v2
    http://www.kyrie-4.us.com/ kyrie 1
    http://www.fitflopsshoes.us.com/ fit flops
    Reply 5/14/2018 6:42 AM
  3. Yeezy V2 Sales's avatar Yeezy V2 Sales
    yeezy v 2の販売,환상 판매,La vendita Yeezy V2,Yeezy V2 de vente,En el mercado yeezy V2.
    http://www.yeezyv2sales.org/ Zebra Yeezys
    http://www.yeezyv2sales.org/ Zebra Yeezy
    http://www.yeezyv2sales.org/ Yellow Yeezy
    http://www.yeezyv2sales.org/ Yeezy Sale
    http://www.yeezyv2sales.org/ Yeezy V2
    http://www.yeezyv2sales.org/ Yeezy For Sale
    http://www.yeezyv2sales.org/ Yeezy Cream
    http://www.yeezyv2sales.org/ Yeezy Boost V2
    http://www.yeezyv2sales.org/ Yeezy Boost 750
    http://www.yeezyv2sales.org/ Yeezy Boost 700
    http://www.yeezyv2sales.org/ Yeezy Boost
    http://www.yeezyv2sales.org/ Yeezy Blue Tint
    http://www.yeezyv2sales.org/ Yeezy Blue
    http://www.yeezyv2sales.org/ Yeezy Beluga 2.0
    http://www.yeezyv2sales.org/ Yeezy Beluga
    http://www.yeezyv2sales.org/ Yeezy 2018
    http://www.yeezyv2sales.org/ Yeezy
    http://www.yeezyv2sales.org/ White Yeezys
    http://www.yeezyv2sales.org/ White Yeezy
    http://www.yeezyv2sales.org/ Where To Buy Yeezys
    http://www.yeezyv2sales.org/ Ultra Boost Adidas
    http://www.yeezyv2sales.org/ Ultra Boost 4.0
    http://www.yeezyv2sales.org/ Ultra Boost
    http://www.yeezyv2sales.org/ Supreme Yeezy
    http://www.yeezyv2sales.org/ Real Yeezys
    http://www.yeezyv2sales.org/ Cheap Yeezy
    http://www.yeezyv2sales.org/ Blue Tint Yeezy
    http://www.yeezyv2sales.org/ Black Yeezys
    http://www.yeezyv2sales.org/ Black Yeezy
    http://www.yeezyv2sales.org/ Beluga Yeezy
    http://www.yeezyv2.top/ Zebra Yeezys
    http://www.yeezyv2.top/ Yeezy V2 Boost
    http://www.yeezyv2.top/ Yeezy V2
    http://www.yeezyv2.top/ Yeezy 350 V2
    http://www.yeezyv2.top/ Yeezy 2018
    http://www.yeezysv2.co.uk/ Yeezys Shoes
    http://www.yeezysv2.co.uk/ Yeezys For Sale
    http://www.yeezysv2.co.uk/ Yeezys Boost 350 V2
    http://www.yeezysv2.co.uk/ Yeezys Boost 350
    http://www.yeezysv2.co.uk/ Yeezys
    http://www.yeezysv2.co.uk/ Yeezy'S
    http://www.yeezysv2.co.uk/ Yeezys
    http://www.yeezysv2.co.uk/ Yeezy Zebra
    http://www.yeezysv2.co.uk/ Yeezy Yellow
    http://www.yeezysv2.co.uk/ Yeezy V2 Boost
    http://www.yeezysv2.co.uk/ Yeezy V2
    http://www.yeezysv2.co.uk/ Adidas Yeezy V2
    http://www.yeezysv2.co.uk/ Adidas V2
    http://www.yeezysv2.co.uk/ 350
    http://www.yeezyshoes.top/ Yeezy Slippers
    http://www.yeezyshoes.top/ Yeezy Shoes
    http://www.yeezyshoes.top/ Yeezy Sale
    http://www.yeezyshoes.top/ Yeezy Price
    http://www.yeezyshoes.top/ Yeezy Pirate Black
    http://www.yeezyshoes.top/ Adidas Shoes For Men
    http://www.yeezyshoes.top/ Adidas Shoes
    http://www.yeezyboost350v2outlet.com/ Yeezy Boost V2
    http://www.yeezyboost350v2outlet.com/ Yeezy Boost 750
    http://www.yeezyboost350v2outlet.com/ Yeezy Boost 700
    http://www.yeezyboost350v2outlet.com/ Yeezy Boost 350 V2 Zebra
    http://www.yeezyboost350v2outlet.com/ Yeezy Boost 350 V2 Outlet
    http://www.yeezyboost350v2outlet.com/ Yeezy Boost 350 V2 Footlocker
    http://www.yeezyboost350v2outlet.com/ Yeezy Boost 350 V2 Blue Tint
    http://www.yeezyboost350v2outlet.com/ Yeezy Boost 350 V2 Beluga
    http://www.yeezyboost350v2outlet.com/ Yeezy Boost 350 V2
    http://www.yeezyboost350v2outlet.com/ Yeezy Boost 350 For Sale
    http://www.yeezyboost350v2outlet.com/ Yeezy Boost 350 Foot Locker
    http://www.yeezyboost350v2outlet.com/ Yeezy Boost 350
    http://www.yeezyboost350v2outlet.com/ Yeezy Boost
    http://www.yeezy500.org/ Yeezy 750 Boost
    http://www.yeezy500.org/ Yeezy 750
    http://www.yeezy500.org/ Yeezy 700
    http://www.yeezy500.org/ Yeezy 500
    http://www.yeezy500.org/ Yeezy 350 V2
    http://www.yeezy500.org/ Yeezy 350 Boost V2
    http://www.yeezy500.org/ Yeezy 350 Boost
    http://www.yeezy500.org/ Yeezy 350
    http://www.yeezy500.org/ Yeezy 2018
    http://www.newyeezyv2.org/ Blue Tint Yeezy
    http://www.newyeezyv2.org/ Black Yeezys
    http://www.newyeezyv2.org/ Black Yeezy
    http://www.newyeezyv2.org/ Beluga Yeezy
    http://www.newyeezyv2.org/ Adidas Yeezys
    http://www.newyeezyv2.org/ Adidas Yeezy V2
    http://www.newyeezyv2.org/ Adidas Yeezy
    http://www.newyeezyv2.com/ Yeezy 2018
    http://www.newyeezyv2.com/ Supreme Yeezy
    http://www.newyeezyv2.com/ New Yeezys
    http://www.newyeezyv2.com/ New Yeezy V2
    http://www.newyeezyv2.com/ New Yeezy
    http://www.newyeezyv2.com/ Cheap Yeezy
    http://www.newyeezyv2.com/ Adidas V2
    http://www.ukmonclercoat.co.uk/ Uk Moncler Coat
    http://www.ukmonclercoat.co.uk/ Uk Moncler
    http://www.monclerukonline.co.uk/ Moncler Uk Online
    http://www.monclerukonline.co.uk/ Moncler Uk
    http://www.moncler-ukoutlet.co.uk/ Moncler Uk Outlet
    http://www.moncler-ukoutlet.co.uk/ Moncler Uk
    http://www.monclerjacketoutlets.co.uk/ Moncler Jacket Outlets
    http://www.monclerjacketoutlets.co.uk/ Moncler Jacket
    http://www.monclerukjackets.co.uk/ Moncler Uk Jackets
    http://www.monclerukjackets.co.uk/ Moncler Jackets
    http://www.canadagooseuk.org/ Goose Down Jackets
    http://www.canadagooseuk.org/ Canada Goose Uk
    http://www.usnfljerseys.us/ Nfl Jerseys
    http://www.usnfljerseys.us/ Nfl Jersey Cheap
    http://www.usnfljerseys.us/ Nfl Jersey
    http://www.usnfljerseys.org/ Nfl Jersey Cheap
    http://www.usnfljerseys.org/ Nfl Jersey
    http://www.usnfljerseys.org/ Nfl Cheap Jerseys
    http://www.uscheapnfljersey.com/ Cheap Nfl Jerseys
    http://www.uscheapnfljersey.com/ Cheap Nfl Jersey
    http://www.nfljerseyscheapsales.com/ Nhl Jerseys 2018
    http://www.nfljerseyscheapsales.com/ Nfl Jerseys For Sale
    http://www.nfljerseyscheapsales.com/ Nfl Jerseys Cheap
    http://www.cheapnba.top/ Nba Jerseys Cheap
    http://www.cheapnba.top/ Nba Jerseys 2018
    http://www.cheapnba.top/ Nba Jerseys
    http://www.uscheapjerseys.us.com/ Cheap Jerseys
    http://www.uscheapjerseys.us.com/ Cheap Jersey 2018 Us
    http://www.uscheapjerseys.us.com/ Cheap China Jerseys
    http://www.air-max2018.com/ Air Max 2018
    http://www.air-max2018.com/ 2018 Nike Air Max
    http://www.air-max2018.com/ 2018 Air Max
    http://www.nikeairvapormax.top/ Nike Vapormax
    http://www.nikeairvapormax.top/ Nike Air Vapor Max
    http://www.vapor-max.com/ Vapormax
    http://www.vapor-max.com/ Vapor Max Nike
    http://www.vapor-max.com/ Vapor Max
    http://www.vapormax2018.org Vapormax 2018
    http://www.vapormax2018.org Vapormax
    http://www.vapormax2018.org Vapor Max Nike
    http://www.vapormax2018.org Vapor Max
    http://russia2018jersers.com/ 2018
    http://russia2018jersers.com/ Worldcup 2018
    http://russia2018jersers.com/ World Cup Soccer 2018
    http://russia2018jersers.com/ World Cup Russia 2018
    http://www.footballjerseycheap.com/ World Cup Russia
    http://www.footballjerseycheap.com/ World Cup Football 2018
    http://www.footballjerseycheap.com/ World Cup Football
    http://www.footballjerseycheap.com/ World Cup 2018
    http://www.warriors-gs.com/ Warriors Jersey
    http://www.warriors-gs.com/ Nba Warriors
    http://www.warriors-gs.com/ Golden State Warriors
    http://www.michael-kors-bags.us/ Michael Kors Factory Sale
    http://www.michael-kors-bags.us/ Michael Kors bags
    http://www.michael-kors-bags.us/ Michael Kors
    http://www.jordan-air.us/ Jordan Air
    http://www.jordan-air.us/ Cheap Jordan Shoes
    http://www.jordan-air.us/ Air Jordan Shoes
    http://www.jordan-air.us/ Air Jordan
    http://www.asics.us.com/ Asics Shoes
    http://www.asics.us.com/ Asics
    http://www.clearancefitflop.com/ Cheap Fitflop
    http://www.clearancefitflop.com/ Fitflop Clearance
    http://www.clearancefitflop.com/ Fitflop Sale Clearance
    http://www.clearancefitflop.com/ Discount Fitflop
    http://www.clearancefitflop.com/ Fitflop Outlet
    http://www.clearancefitflop.com/ Fitflop Clearance Outlet
    http://www.clearancefitflop.com/ Clearance Fitflop
    http://www.pandorajewellerywholesale.co.uk/ Cheap Pandora Charms
    http://www.pandorajewellerywholesale.co.uk/ Pandora Charms Sale Clearance
    http://www.pandorajewellerywholesale.co.uk/ Pandora Charms
    http://www.pandorajewellerywholesale.co.uk/ Wholesale Pandora Jewellery
    http://www.pandorajewellerywholesale.co.uk/ Pandora Wholesale
    http://www.pandorajewellerywholesale.co.uk/ Pandora Jewellery Wholesale
    http://www.pandorajewellerywholesale.co.uk/ Pandora Jewelry
    http://www.pandorajewellerywholesale.co.uk/ Pandora Outlet
    http://www.pandorajewellerywholesale.co.uk/ Pandora Charms Outlet
    http://www.pandorajewellerywholesale.co.uk/ Pandora Rings
    http://www.pandorajewellerywholesale.co.uk/ Pandora Bracelets
    http://www.canadagoosejacketuk.co.uk/ Canada Goose
    http://www.canadagoosejacketuk.co.uk/ Canada Goose UK
    http://www.canadagoosejacketuk.co.uk/ Down Jackets For Women
    http://www.canadagoosejacketuk.co.uk/ Canada Goose UK Jacket
    http://www.canadagoosejacketuk.co.uk/ Canada Goose Jacket UK
    http://www.canadagoosejacketuk.co.uk/ Canada Goose Jacket
    Reply 6/19/2018 4:00 PM

Leave a Reply

 [Quick Submit with Ctrl+Enter]

Remember my details
Notify me of followup comments via e-mail