Depending on building size, number of apartments, and other factors, apartment building insurance options in Massachusetts can be numerous. If you are an apartment building owner, landlord or property manager, let Mackintire Insurance Agency help you navigate the options and design the best insurance policy for your rental property.

The size of the apartment building will help determine the appropriate policy. A 30 unit apartment building may require commercial property insurance, while a landlord renting a triple-decker may need much less extensive coverage. Either way, apartment insurance for landlords will generally include:

• General property insurance for the apartment building itself. Detached structures such as sheds and garages may require additional coverage.
• Landlord contents insurance ranges from limited coverage for unfurnished apartments (carpets, drapes, appliances, etc.) to full contents coverage for furnished apartments. Renters are encouraged to purchase their own renters insurance for personal items.
• Boiler, HVAC and machinery coverage may not be part of a standard policy and may be added.
• Rental income insurance can cover up to 12 months of lost apartment rental income if a fire or other disaster renders the building uninhabitable.
• General liability insurance, with additional umbrella liability insurance if needed, can protect you if a tenant or other person is injured on your rental property. Legal expense coverage may also be available for attorney fees, lost rental income and other legal expenses if a tenant refuses to pay rent or breaks a lease.

Some of the apartment building insurance benefits described above may also be provided by dwelling fire insurance or even a security deposit, so be sure to discuss these options with your Mackintire Insurance agent.

Speak with a Mackintire Insurance agent today to find the best Massachusetts apartment building insurance policy for you and rent with confidence.