Why is apartment/habitational insurance getting harder to place?

Carriers have tightened habitational appetite due to water-damage frequency, aging buildings, tenant liability, and rising rebuild costs. Older NJ multi-family buildings with any loss history are increasingly non-renewed — and increasingly placed in the specialty market.

Can you insure an older multi-family building with prior claims?

Yes. Age and claims history are exactly what push these to specialty carriers that underwrite habitational risk by hand. We place two- to four-family and larger apartment buildings the standard market drops.

Does the policy cover lost rent if the building is damaged?

It can — loss-of-rents (business income for landlords) covers rental income while the building is untenantable after a covered loss. We make sure it's included and sized correctly for your rent roll.

Apartment & Multi-Family Building Insurance in NJ

Apartment & Multi-Family Building Insurance in New Jersey

Habitational risk — apartments and multi-family buildings — is one of the classes standard carriers have pulled back from hardest, especially older NJ buildings with prior water or liability losses. When the standard market tightens, specialty carriers keep these buildings insured.

Apartment and multi-family buildings standard carriers won't renew

Older buildings, three- and four-family homes, and small portfolios

Coverage after prior water, fire, or liability losses

Property, general liability, and loss-of-rents for owners

Apartment & Multi-Family Building Insurance in New Jersey

Habitational is one of the toughest property classes right now. Carriers have retreated from apartments and multi-family buildings — especially older NJ stock — leaving many owners non-renewed and scrambling.

Why the pullback

Water-damage claims, aging plumbing and roofs, tenant liability, and rising reconstruction costs have made carriers cautious on habitational risk. An older building with even one prior loss is now a common non-renewal — and a common specialty-market placement.

What owners need

Building property coverage sized to today's rebuild cost, general liability for tenant and visitor injuries, and loss-of-rents so a covered loss doesn't wipe out your income while the building is repaired. We structure all three and place them with carriers that still want habitational business.

Keep your building covered

Kevin Brown Insurance Agency (Kevin Brown, NJ resident producer, License #3003694894) writes apartment and multi-family buildings across NJ, including the hard ones. Call 732-944-1791 or start online.

Coverage area	All 21 NJ counties
Agent	Kevin Brown, NJ resident producer (License #3003694894)
Markets	Admitted, specialty & surplus-lines (E&S) carriers compared
Best for	Declined, non-renewed & high-hazard commercial risks
Contact	732-944-1791

Apartment & Multi-Family Building Insurance in New Jersey

Licensed NJ Producer

Lightning-Fast Response

Serving All NJ

Apartment & Multi-Family Building Insurance in New Jersey

Why the pullback

What owners need

Keep your building covered

By the Numbers

Frequently Asked Questions

Related NJ Coverage

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