In the last few decades, hurricanes have completely changed the way that insurers and the insured look at coastal property insurance. Many clients who own apartment buildings may assume that they cannot get coverage or that it is too expensive to carry but understand the need for it.
The option of living on or near the coast and having insurance coverage goes hand in hand. There are several reasons that clients need coastal property insurance for their apartment or condominium complexes.
Apartment Insurance Consultants
For apartment and condominium owners looking for coastal insurance coverage, Apartment Insurance Consultants, LLC (AIC) provides access to insurance solutions for coastal apartment owners. With our notable transactional brokerage platform and distinctive niche programs, AIC has the potential to craft and carry out all risk management needs with innovative and creative solutions.
By providing competitive rates with the power of group purchasing, AIC provides apartment owners and managers with a broad range of insurance coverage with the savings passed on to your clients. AIC remains a competitive leader in the coastal habitational insurance industry with both traditional and alternative risk strategies.
Check Coverage Options
Help clients understand their coverage options. Do they have enough coverage? Is this coverage adequate for a coastal living? What options are available? How much will this cost? Should they have additional coverage? Guiding clients to a well-covered policy can bring them peace of mind knowing that in the event of a coastal disaster, their investment will be covered.
Supplemental Insurance Options
Help clients with buying the coverage they need. Since coastal properties need additional and different types of coverage, reviewing their current policy and adding additional coverage options, such as flood, will mean that your clients are completely covered.
Get Insured Now!
It is too late to get coastal insurance once a hurricane is approaching. Clients need to understand that putting off buying coverage or having a lapse in coverage is like playing Russian roulette with mother nature. The sooner they are covered, the better.
AIC’s coastal habitational property program for apartments and condominiums protects the building and personal property and provides attractive deductibles. Some coverage highlights include:
- Building, personal property, and replacement costs
- 110% margin clause permits loss payments to exceed blanket scheduled limits for each location
- Building ordinance or law coverage A
- Extended period of indemnity for loss of rents and 365 days
- Demolition and increased cost of construction
- $5M in general liability limits
- $1/$2M non-owned and hired auto liability
- $1M excess liability options
- Boiler and machinery options
- Real property coverage including fences, signs, carports, storage & pools
Financing is available for all clients with a small down payment. Financing of the balance is also available with one of our financing partners.