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Multi-Family Property Insurance - Key Coverages

Updated: Jul 8, 2021

Multi-Home Condominium Complex

As a multi-family property owner, it is important to ensure your building is fully protected in the event of a claim. Here are a few key coverages to review on your policy:

Building Coverage

The meat and bones of your policy. Building coverage protects the main structure of your property and anything attached. Will this limit be enough to replace the building in the event of a claim?

Special Form and Replacement Cost Coverages

ALWAYS make sure your policy is on a special form with replacement cost coverage. Special Form provides coverage for all perils unless specifically excluded. Most policies exclude earthquake and flood coverage which can be purchased separately.

Landlord Liability Coverage

This is the most important coverage on your policy. Landlord liability coverage protects you against claims or lawsuits made against you at the premises, including bodily injury, property damage, and wrongful eviction.

Ordinance and Law Coverage

This coverage is commonly overlooked. Ordinance and Law provides coverage for the increased costs to demolish, repair, and rebuild your building to comply with current laws and building codes in the event of a claim. If your building is over 20-30 years old, it is important to have sufficient Ordinance and Law Coverage.


To request a quote and insurance coverage review of your property, please click on the following link for more information:

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Ives Insurance Services is a full service, independent agency that has been in business for over 60 years. We write all lines of coverage with a strong focus on property.

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