California Apartment Owners Insurance
What You Don't Know About Your Landlord Insurance Policy Can Hurt you
As a property owner you depend on the rental income your apartments bring in. It can be income to keep your units properly running and is probably income that you depend on personally. There can be many profitable benefits to being an apartment building owner; however, there can be many hassles involved that can interrupt the cash flow that you have become dependent on. Without the proper Apartment Owners Insurance policy and endorsements, these types of hassles could really leave you in a bind and without the cash flow you'll need for an extended amount of time.
Understandably, nobody wants to think about losing their investment or their income due to a gap in their coverage. Contact Aldrich Taylor Insurance Agency to be sure that all gaps are closed up and you'll be able to sleep at night knowing your investment properties are protected properly.
Potential Expenses California Rental Property Insurance Should Cover
Pose this question to yourself: What if a covered peril like a fire were to compromise half of my apartment building?
This leads to other questions you should ask yourself:
- Can I afford to pay the full mortgage and utilities without the full rents coming in during repair?
- Can I afford to pay for my tenants to be moved out of their units while repairs are being made?
- My building has some items that haven't been upgraded to code. Can I afford to rebuild the building to meet the new code requirements?
- My tenants may have their cars or personal belongings destroyed. Can I afford to pay for those?
If the answer to any of these questions is "no" or "I don't know" it may be time to research a new Landlord Insurance policy. One big issue is that most lenders don't require additional coverage for extra expenses as their only concern is that the structure itself is protected. Beyond that, lots of insurance agents will try to sell you a competitive quote for your Apartment Owners Insurance Policy by leaving these extra benefits out. Surprisingly, these extra benefits aren't that expensive and when you consider the comprehensive nature of these benefits, it can be a real disservice to you, the client.
Aldrich Taylor Insurance Agency: Your Landlord Insurance Experts
Aldrich Taylor Insurance Agency deals with the most competitive condo, duplex and Rental Property Insurance carriers in the industry. We serve Southern California multi-unit building owners insurance needs including:
- Apartment Owners
- Duplex Owners
- Multi-Family Owners
- Multi-Unit Building Owners
Contact us today at 818-841-2940 or fill out the protection savings form. We are ready to assist with your comprehensive Rental Property Insurance needs. We're also happy to review your current coverage at no cost to you!