Habitational Risk Insurance

Habitational Risk Insurance

What is it? Habitational Risk Insurance is designed for commercial residential properties such as apartment buildings, homeowners associations, condominium associations, and rented homes.

Who needs it? Anyone renting property to others should consider Habitational Risk Insurance. This includes single-dwelling landlords, condominium and townhome associations, boarding houses, and student dormitories.

Why Your Agent Matters And How We Can Help:

Having an agent that understands the complex needs of property owners, associations, and property managers is key. Not only are these entities responsible for their own buildings and property, but they are also responsible for aspects of the safety and protection of residents or guests. At Stein Insurance, we have the experience, industry knowledge, and carrier partnerships to structure a comprehensive Habitational Risk Insurance program. We take time to understand the distinct aspects of your operations and perform a complete risk analysis and review. Whether you are a property owner, property manager, or both, we have the ability to address all aspects of your insurance needs.

Specialty Programs We Offer:

As an independent insurance agency, we have partnered with a variety of carriers. Many of these offer specialty programs designed for property owners, managers, or a combination of both. Working with multiple carriers provides the added benefit of flexibility and choice. We are able to compare bundled package options along with mix and match options to ensure you are receiving the most comprehensive program at a competitive price.

Flexibility and choice is offered with wind/hail deductibles as well. You may not be limited to a percentage based wind/hail deductible. Some programs offer flat, per building, or per occurrence wind/hail deductibles. This can be a meaningful alternative to the often high cost of a percentage based deductible. This leads to a more tailored structure, and puts you in control of your risk program.

Brown Stone Apartment Program: This is a package product designed for tenant occupied, free standing, multi-unit, rental properties. Developed specifically for smaller habitational properties, the program delivers the coverages building owners want. As a niche product, it will address some of the exposures unique to brownstone apartment properties.

Coverage Considerations

  • Property Deductibles
  • Building definition for Condominium, Townhome, and/or Homeowners Association
  • Directors & Officers Liability
  • Property Managers Errors & Omissions
  • Hired or Non-Owned Auto
  • Umbrella Liability
  • Loss of Rental Income
  • Replacement Cost on Building
  • Building Glass
  • Outdoor Signs
  • Water damage
  • Accounts Receivable
  • Cyber Liability & Crime
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