When you are managing a multi-family property in West Hartford, CT, you will need more coverage than your standard home insurance. At ALLConnecticut Insurance, we know that every multi-family property is different. We can help you to get the coverage that you need to protect your property from every risk.
Liability Insurance
Liability insurance protects you from injury claims or third-party damage to property. This type of home insurance will cover you from slip and fall lawsuits or claims. If a tenant hurts themselves or experiences a problem that could have been prevented by you, you could be sued or asked to cover the damages.
Those damages could add up, and might include medical costs, legal fees, and lost wages.
Property Insurance
Property insurance on a multi-family home is much like property insurance on your home insurance, with more coverage. You might also get extended coverages depending on the structure of the home, and its specific needs.
A home with several apartments in it that is 100 years old for example may need more home insurance than one that was just built.
If you have multiple buildings or structures on your property, you will probably need different coverage for all of them. You can get whole property coverage however that will cover everything.
Commercial Insurance
You may have families living in your building or home that are not paying rent, but very often they are. This means running a multi-family property is often a commercial business. In addition to your property and liability business home insurance, you will need commercial insurance to protect every facet of this enterprise. That includes your business income, losses in the event of a crisis, and even your payroll.
Additional coverage you may consider after you purchase these insurance policies for your business might be umbrella coverage. This is the coverage that will make sure that you are covered for any additional crisis beyond what these policies will cover.
Get a Quote
If you are seeking commercial or home insurance on a multi-family property in West Hartford, CT, we know that your home insurance needs are complex. Call ALLConnecticut Insurance for a quote on home insurance for multi-family properties.