Understanding Law and Ordinance Coverage for Apartment Building Insurance
When it comes to insuring an apartment building, property owners often think about protecting their investment against common risks like fire, theft, or natural disasters. However, one important aspect that is sometimes overlooked is Law and Ordinance Coverage—a critical component that can save landlords from unexpected expenses related to building codes and regulations. What Is […]
Insurance to Value and Coinsurance: What Apartment Building Owners Need to Know
In this article, we’ll explore the concept of Insurance-to-Value (ITV), explain coinsurance clauses, and demonstrate how penalties are calculated with a real-world scenario. We’ll also use a variety of terms to make sure these concepts are crystal clear from every angle.
Insurance Challenges with Galvanized Pipes in Apartment Buildings
Galvanized steel pipes, once a common choice for plumbing in apartment buildings built before the 1960s, are now a red flag for both property owners and insurance companies. As these aging pipes continue to deteriorate, they pose not only maintenance concerns but also significant challenges in securing affordable and comprehensive insurance coverage. What Are Galvanized […]