Apartment Building Business Insurance Coverage Checklist
The coverages an apartment building business business may carry — core, prevalent, and situational — why each matters, and the gap most often missed.
Pull out your current policy and check the box next to any coverage you can confirm is already in place — anything unchecked is worth a quick conversation with your advisor. Coverage checklist for owners of apartment buildings and residential rentals. Priorities reflect typical exposure; confirm against building age, size, and amenities.
Tick each coverage you can confirm you carry — anything left unticked is a good question for your next policy review.
| Have it? | Coverage | Why this business needs it | Priority |
|---|---|---|---|
| Commercial Property (incl. Loss of Rents) | Covers buildings and lost rental income after a covered loss such as fire or water damage. | Core | |
| Commercial General Liability | Covers tenant and visitor injuries, including falls, dog bites, and pool incidents. | Core | |
| Umbrella / Excess Liability | Adds limits for a catastrophic loss such as a fatal building fire. | Core | |
| Equipment Breakdown | Covers boilers, HVAC, elevators, and electrical systems. | Prevalent | |
| Ordinance or Law | Pays added costs to rebuild older buildings to current code after a loss. | Prevalent | |
| Assault & Battery / Negligent Security | Negligent-security claims are surging even at gated, camera-equipped properties — confirm GL doesn't exclude or sublimit assault; lenders often require it. | Prevalent | |
| Fair Housing / Discrimination Coverage | Covers discrimination claims, often excluded unless endorsed or bought as EPL. | Prevalent | |
| Lead Paint Liability | Needed for pre-1978 buildings — often excluded. | Situational |
The coverage gap most often missed
The most commonly missed exposure for this class is a building-wide fire. In the 2022 Twin Parks fire, one space heater and two doors that failed to self-close killed 17 people — and the city had cited the building's doors years earlier. A single fire can exhaust primary limits, so umbrella limits should reflect building size. Documented self-closing door inspections, prompt heat repairs, and a ban on space heaters as primary heat are the core controls. Owners should also confirm whether their policy excludes fair housing and lead paint claims.
Send us the checklist and we'll review your apartment building business coverage line by line, then market it across multiple carriers that compete for your account.
Related: Apartment Building Business Insurance · Apartment Building Business Supplemental (apply) · All coverage checklists
Frequently asked questions
What insurance does an apartment building business business need?
The core coverages for an apartment building business business are Commercial Property (incl. Loss of Rents), Commercial General Liability, Umbrella / Excess Liability. This checklist also lists the prevalent and situational coverages worth considering, with a plain-English note on why each matters.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my apartment building business coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.