Habitational Insurance – Apartment & HOA

What is Habitational Insurance?

Habitational Insurance is a comprehensive policy that is specifically designed for commercial residential properties, such as apartments, HOAs, and multi-residential dwellings. Unlike standard property policies, Habitational Insurance policies combine the elements of homeowners, business, and other insurances to cover the unique risks that commercial residential property owners face. The policy typically includes Property Insurance and General Liability Insurance.

 

Request a Free Insurance Quote today!

GET A QUOTE

Phone Number
303-808-9351

Hours
Monday–Friday: 9:00AM–5:00PM
Saturday: By Appointment
Sunday: Closed

abitational Insurance Longmont

In Colorado, property damages caused by recurring hailstorms has forced the insurance industry to take a different approach on insuring habitational risks, resulting in substantially higher premiums and deductibles, with several insurance companies discontinuing coverages altogether. The complexities of Apartment and HOA insurance combined with the financial hurdles that commercial residential property owners and associations now face demand real solutions, and Mountain Insurance is committed to providing comprehensive habitational insurance solutions for clients throughout Longmont, Boulder, and the surrounding areas.

At Mountain Insurance, we utilize various insurance partners to structure a habitational insurance policy catered to the client’s needs, and we insure all habitational risks, including:

  • Short-term rentals
  • Historical Designations
  • Section 8 Housing
  • Buildings with aluminum wiring
  • Old buildings
  • Previous wind/hail claims
  • Poor claims history
  • Cancelled policies

For a complete risk analysis, contact Mountain Insurance to speak with a habitational insurance advisor today. We offer easy access to HOA, Apartment, and Habitational Insurance options throughout Northern Colorado, with sound solutions for all your insurance needs.

Longmont Habitational Insurance Q&A:

Do Condo Associations need to carry Directors and Officers Liability Insurance?

Absolutely! Board members of HOAs take on a variety of responsibilities, increasing exposure and the potential of personal risks. Implementing a Directors and Officers Liability policy will provide additional protection and safeguard board members from such risks.

Hail is a big concern for insurance companies in Colorado. Are there any other exposures that concern insurance companies?

Gas and charcoal grills are a common fixture on the balconies and decks of multi-residential properties and are deemed an exposure by insurance companies. Because of the risks associated with grills, many insurance companies will refuse to insure commercial residential properties who allow them on balconies or decks.

Is there a way to offset high wind/hail deductibles?

The majority of insurance companies issuing habitational insurance policies include separate deductibles for wind/hail damage, in excess of up to 10%. Many companies in Colorado are now offering Wind/Hail Buy Back policies that will basically cover the large deductible of the primary policy.

If you have a commercial residential property in Longmont, Boulder, Lafayette, or the neighboring communities and have questions about Habitational Insurance, or need a policy for your Apartment or HOA, contact Mountain Insurance to discuss your options and get a free quote.

Request A Quote From Us Today!

This field is for validation purposes and should be left unchanged.