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Comprehensive Insurance for Landlords with 5+ Unit Properties

Owning and managing a multi-unit rental property comes with unique responsibilities—and risks.  When stepping over 5 doors, the insurance carriers now require you to carry a commercial insurance policy, which has its own unique obstacles that you will need to navigate. Protecting your investment is critical to ensuring long-term financial success. GRIT Insurance offers tailored landlord insurance policies for properties with 5 or more doors, giving you peace of mind and financial security.

What Does Landlord Insurance for 5+ Unit Properties Cover?

Our landlord insurance policies are designed to protect large rental properties and the specific risks associated with managing multiple units. Coverage typically includes:

  • Property Coverage: Protects your building, fixtures, and attached structures against risks like fire, storms, vandalism, and other covered perils.
  • Liability Coverage: Covers legal expenses and medical costs if someone is injured on your property or if you’re held responsible for damages.
  • Loss of Rental Income: Reimburses lost rent if your property becomes uninhabitable due to a covered event, such as fire or storm damage.
  • Tenant Damage Protection: Optional coverage for damage caused by tenants beyond normal wear and tear.
  • Equipment Breakdown Coverage: Covers repairs or replacement for essential systems like HVAC, electrical, or plumbing.
  • Umbrella Liability Coverage: Provides an additional layer of liability protection for large-scale risks.

Why Choose GRIT Insurance for Your Multi-Unit Property Coverage?

At GRIT Insurance, we understand the complexities of managing larger rental properties. Here’s why landlords trust us for their insurance needs:

  • Tailored Solutions: We customize coverage to match your property's specific needs, including additional risks associated with large-scale operations.
  • Access to Top Carriers: We shop policies from a network of trusted insurance providers to find the best coverage at competitive rates.
  • Expert Guidance: Our experienced agents work with you to identify potential risks and recommend the right coverage options.
  • Ongoing Support: From obtaining a quote to navigating claims, we’re here to provide expert assistance.

Frequently Asked Questions About Multi-Unit Landlord Insurance

Is landlord insurance required?
While not legally required, landlord insurance is essential for protecting your property, liability, and rental income. If you have any kind of lending, your lender will require coverage to cover their position.  It’s especially critical for multi-unit buildings, which carry greater risks.

Does landlord insurance cover tenant belongings?
No. Landlord insurance covers the building and your liability, but tenants must carry renters insurance to protect their personal property.

What if the property includes commercial spaces?
For mixed-use properties, we offer tailored policies that cover both residential and commercial units under one plan.

What happens if a tenant damages the property?
Tenant-caused damages may be covered under optional tenant damage protection or specific policy endorsements.