Apartment Building Insurance — Florida 5+ Unit Multifamily Coverage

Frequently Asked Questions

• Why does a fourplex use a different policy than a 20-unit building?
  Small multifamily (typically 1-4 units) is often eligible for a DP-3 landlord policy. Buildings with 5 or more units move to commercial property forms or a business owners policy (BOP).
• Is loss of rents standard on apartment building policies?
  It is commonly included but the limit, term, and definition vary. Confirm whether the policy uses actual loss sustained, a flat 12-month limit, or a percentage cap.
• Do I need umbrella liability on an apartment building?
  Umbrella is commonly recommended because of higher tenant density, common-area exposures, and lease or lender requirements. Limits of $2M to $10M+ are typical for multifamily.
• What's ordinance or law and why does it matter for apartments?
  Older apartment buildings often face new code requirements after a loss — wind, electrical, plumbing, accessibility, life-safety. Ordinance or law coverage helps with the increased rebuild cost.
• How does wind coverage work in Florida?
  Some carriers include wind in the property policy; others write wind as a separate policy through a specialty market. Hurricane deductibles can apply per hurricane or annually. Read the schedule carefully.
• Is flood usually included?
  No. Flood is always a separate policy through the NFIP or a private flood market. Apartment buildings in mapped flood zones are often subject to lender flood requirements.
• What about pool and amenity liability?
  Pool, hot tub, playground, exercise equipment, and dog parks all shift the liability picture. Confirm each amenity is contemplated and consider higher limits or umbrella.
• Do you write multi-state apartment portfolios?
  Yes. The agency is headquartered in Tampa, FL and serves multi-state apartment investors nationwide — portfolio policies and scheduled location policies are placed regularly across multiple states.