Landlords need to be well insured

As a landlord or manager of an apartment complex there are a myriad of worries and things to attend to. Apartment complex insurance in Denver Colorado relieves the landlord from having to worry about the results of a catastrophe. This type of insurance provides protection not just for the building; it also protects the building owner in the event of liability.

The insurance that the landlord purchases is for the building in the event of an insured loss, it does not cover any damage that may happen to the property of the tenants of the building, it is their responsibility to insure against loss to their personal property. Apartment complex insurance in Denver Colorado is strictly for those structures on the property, the main building complex, garages, car ports or maintenance outbuildings.  The liability section of the policy will provide for personal injury, general liability and property damage.

The insurance that is offered for an apartment complex is different than the type of policy that applies to commercial buildings. Apartment complex insurance is only for properties which are rented for residential purposes, these units are not only apartments; they can also be vacation homes and rental houses.

Liability insurance is important in the event there is negligence proven on the part of the complex owner. This insurance will cover the owner and all legal fees in the event of a law suit that the complainant wins.

The losses which are normally covered by Apartment Complex Insurance In Denver Colorado are those from fire, storm damage such as falling trees, water damage which may be the result of negligence or broken pipes as well as vandalism. Depending on the area of the country where the building is located flooding is not considered as a covered loss and if the owner wishes to include it, a special rider must be written and the premium adjusted.

The sole source of income for the owner of an apartment complex is the rent that his tenants pay. If the building is damaged to the point where it is inhabitable, then the insurance can provide for loss of income during the time the building is being repaired and made ready for occupancy. The owner will have to show proof of occupancy before compensation will be paid by the insurance company.

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