What Are Habitational Policies?

When your clients own or manage multiple inhabitant properties such as apartment buildings and condo complexes, they will need habitational insurance. This type of insurance can help cover your clients for everything from general liability to cyber security risks and can be found through experienced agencies. Not only do habitational property owners have to worry about many of the same things that private homeowners do, such as storm damage, they also have to worry about keeping the information of their residents secure and workers compensation.

Owning properties with multiple residential occupants can have many different liability pit falls including how the upkeep of common areas contributes to health and safety issues. For instance, if the stairways or walkways in your client’s complex are in disrepair, then he or she may be liable for injuries stemming from falls. Some of the other risks that your clients can face include workers’ compensation claims, data breaches and windstorm damage.

Brokers for habitational insurance can help you find many different plans and policies to tailor to the needs of your clients. These policies can help protect your clients from bankruptcy because they will help cover damages resulting from data breaches, property damages and even injuries for which they are found liable. Comparing the policies available can help give your clients more options in coverage levels.