Apartment Building Insurance Santa Clarita
Santa Clarita Valley – Apartment Building Owners Insurance
Apartment Building Insurance options in Santa Clarita include Lucas Insurance Services. We can provide you with the proper coverage needs, right policy terms and piece of mind that your assets are insured properly.
Apartment Building Owners located in Valencia CA, Newhall CA, Stevenson Ranch CA, Canyon Country CA and throughout our Santa Clarita Valley hire Lucas Insurance because we know the importance of providing the correct property coverage and we enjoy helping you the apartment building owners to protect your investments & assets.
Contact Lucas Insurance for:
- Apartment Owners Insurance
- Commercial Building Owners Insurance for Industrial, Retail or Office Buildings
- Commercial Property Insurance Coverage Options
- Commercial Liability Coverage
- Business Income Insurance Policy Options (Available Upon Request)
Lucas Insurance proudly offering coverage for Apartment Owners Insurance Santa Clarita for 30 years. YES! Contact Lucas Insurance at 661-255-6363.
When you call us now simply ask for a Licensed Commercial Insurance Agent in our office and they will be happy to provide you with a quote.
Insurance policies for Santa Clarita Valley apartment building owners can be easy to quote for you once one of our licensed agents asks you a few simple questions to help us better understand the property that is being insured and what is most important to you when getting insured for your commercial apartment properties and assets.
Apartment Building Owners in Santa Clarita enjoy working with our experienced agents here at Lucas Insurance Services and we think you will too!
So if you have the need for quality apartment insurance coverage call:
Insurance For Santa Clarita Apartment Building Owners
Your apartment building should be insured to at least 90% of its replacement cost and only a professional Santa Clarita property appraiser can advise you on the actual replacement cost of the apartment building or property that you are looking to insure here in the Santa Clarita Valley.
The Apartment Building Insurance coverage should include building ordinance. Most apartment building insurance policies contain a sub limit of coverage available for building ordinance coverage. Building ordinance is often overlooked but can be the greater part of your cost to get the building rebuilt in the event of a loss. Be sure you have an adequate amount of insurance for ordinance and that it covers the following:
- Business Income Insurance
- Excess Insurance Coverage
Apartment Building Insurance in Santa Clarita
Apartment Building Insurance: Coverage A provides coverage for loss to the undamaged portion of the building. It pays for the loss of value of the undamaged portion of the building that has to be taken down due to the building code or ordinance imposed following a covered loss. This in effect creates a total loss of your building. Since the building no longer meets code it must be torn down or demolished and re-built to code.
Apartment Building Insurance: Coverage B pays for the cost to demolish and remove the undamaged portions of your Santa Clarita apartment building insurance however the destruction must be due to the building code or ordinance imposed following a covered loss.
Apartment Building Insurance: Coverage C provides for the increased costs incurred to repair or rebuild the property to comply with current ordinance or law. One insurance policy coverage option is coverage for your loss of rents. Most insurance policies provide coverage for 18 months or for the actual loss sustained for a period of 12 months. You do have options and your professional insurance agent at Lucas Insurance Services can make these options available to you for your consideration.
Santa Clarita Apartment Building Insurance
The experts at Lucas Insurance Services will make sure your Santa Clarita apartment owners insurance policy pays the cost to replace appliances that are included in the rental unit such as stoves, refrigerators and dish washers. In addition to that you might have to replace carpeting or flooring or window treatments. These items often get overlooked when values are being placed on the replacement or repair to your apartment building. Without proper guidance you can be left paying out of pocket expenses for items that should have been included in your Santa Clarita apartment building owners’ insurance portfolio.
Just as you carefully insure your real and personal property you must also pay attention to the liability section of your policy. If your apartment building is worth $5,000,000 do not buy liability insurance for $1,000,000. A liability claim can wipe out your assets just as fast as a fire can destroy your building.
Under your liability section you should look for the endorsement for Personal Injury. This endorsement protects you for claims made against you by your tenants for wrongful entry, wrongful eviction, invasion of privacy and discrimination. This type of claim can come with a pretty big price for the defense of the claim and has the potential for a large settlement paid to the claimant.
When you are building your Antelope Valley apartment building owners insurance policy whether it is in Valencia, Newhall or Canyon Country you should always look to a trusted advisor at Lucas Insurance Services in Santa Clarita. We are local and we know the risks you face. More importantly we know how to protect you against those risks.