Office Building Insurance / Apartment Building Insurance

Travelers Apartment Businessowners Policy offers an affordable way for you to obtain Property and Liability insurance. This policy includes key coverages that are important to any business, and also offers additional business-specific options that are important for any apartment owner.

Property Highlights

Property Coverage covers your Building and Business Personal Property for replacement cost with no coinsurance.
• Appurtenant Buildings and Structures:

- Coverage for Appurtenant Buildings and Structures is included up to $50,000.
• Building Glass:

- Coverage for Building Glass is included, with several deductible options available.
• Business Income and Extra Expense:

Covers income that is lost due to suspended operations caused by damage at the described premises from a covered cause of loss. This is an optional coverage for Pac PlusSM.
- Apartment PacSM

• Automatically included and includes rental value.
• Included on an Actual Loss Sustained basis for up to 12 consecutive months.
• Coverage may also be written on a policy or location level basis for any dollar limit without the 12-month limitation.
- Apartment Pac PlusSM

• Optional.
• When selected, the coverage may be written with a policy or location level dollar limit. The dollar limit is based on 80 percent of annual rents and may be modified.
• Business Personal Property Off Premises:

- Coverage for Business Personal Property Off Premises is provided, including while in transit or temporarily away from the scheduled premises and at a premises you do not own, lease or operate; or at any fair, trade show, or exhibition.
• Employee Dishonesty:

- Coverage is included up to $25,000 (with an option to cover property managers as employees). Limit may be increased.
• Equipment Breakdown:

- Coverage for Equipment Breakdown is included within applicable limits.
- Diagnostic equipment, power-generating equipment, and production equipment are limited to $100,000 for direct damage. Limit may
be increased.
- Service interruption of water, communication, or power supply services is covered from a covered breakdown (when Business Income and Extra Expense is covered).
• Newly Acquired or Constructed Buildings:

- Coverage is provided for Newly Acquired or Constructed Buildings up to
$500,000 for up to 180 days.


• Ordinance or Law Coverage:

- Coverage is included for a combined limit of $25,000 at each described premises. Limit may be increased.
• Outdoor Trees, Shrubs and Plants:

- Coverage for Outdoor Trees, Shrubs and Plants is provided for all covered causes of loss up to $3,000. Limit may be increased.
• Signs:

- Coverage for Signs within 1,000 feet is included within the Building limit when building coverage is written.
• These items are considered part of Building coverage:

- Alarm systems;
- Appliances used for refrigeration, ventilating, cooking, dishwashing or laundering;
- Fences;
- Fire extinguishing equipment;
- Floor coverings;
- Lawn maintenance and snow removal equipment;
- Lobby and hallway furnishings;
- Outdoor furniture;
- Outdoor swimming pools; and
- Retaining walls

General Liability Highlights

General Liability Coverage protects you against claims for damages because of bodily injury or property damage to others resulting from your business operations.
• General Liability Limits of $1 million per occurrence / $2 million aggregate are standard for Apartment Pac and Apartment Pac Plus with an option for higher limits of $2 million per occurrence / $4 million aggregate available for Apartment Pac.
• Advertising Injury and Personal Injury.
• Medical Payments for $5,000 per person.
• Damage to Premises Rented to You is included up to $300,000. Limit may be increased.
• Blanket Contractual for all insured contracts.
• Host liquor liability.
• Limited worldwide coverage.
• Products/Completed Operations coverage is included. (May be excluded on Apartment Pac Plus).
• Web XTEND® endorsement is automatically provided for most Apartments.
Coverage includes personal injury, advertising injury and worldwide Web site injury protection (some restrictions apply).


Popular Options for Apartme

Power PacSM property coverage endorsement – enhances coverage in 20 key areas. See chart on next page for more details.
• Building Owners Endorsement – enhances coverage in key areas for your owned buildings:
- Debris Removal limit increased from $25,000 to $50,000.
- Lessor’s Leasehold Interest coverage is added for up to $25,000.
- Tenant Move Back Expenses coverage is added for up to $25,000.
- Utility Services - Direct Damage coverage is added for up to $10,000.
- Ordinance or Law - Increased Period of Restoration limit is increased by $50,000.


• Other Options Available:
- Higher limits for most individual coverage extensions.
- ERISA Welfare and Pension.
- Water or Sewer Back up and Sump Overflow.
- Hired and Non-owned Auto Liability.
• XTEND Endorsement® for liability coverage enhancement – It provides 15 extensions of coverage including:
- Broadened Named Insured.
- Blanket Additional Insured – Managers or Lessors of Premises or Leased Equipment.

 

GET A QUOTE: Call (310) 860-5000