Residential Building Insurance

Protects the physical structure and systems against damage from fire, wind, water, vandalism and other covered perils. Accurate replacement cost coverage ensures you're paid what it costs to rebuild, not just what your property was worth before the loss, and helps you avoid a co-insurance penalty if your insured value falls short.

Addresses third-party bodily injury and property damage claims that arise on your premises, from slip-and-fall incidents to more complex liability scenarios.

Replaces rental revenue when a covered loss makes units temporarily uninhabitable, protecting cash flow during repairs.

Pays the added cost of rebuilding to current building codes after a covered loss, an exposure that standard multi-family building insurance and apartment building insurance policies often exclude.

Covers repair or replacement of mechanical and electrical systems, including elevators, HVAC and boilers, that standard property policies typically exclude.

Protects condo association insurance and HOA insurance board members from personal liability arising from decisions made in their governance role.

Extends your liability limits above underlying policies, providing a critical buffer against large verdicts or settlements.

The most costly surprises tend to fall into a few categories. Many landlords find their property policy excludes equipment breakdown, meaning a failed boiler, elevator or HVAC system comes entirely out of pocket. Others discover their loss of rental income coverage has a waiting period or cap that doesn't reflect their actual revenue exposure. Flood and earthquake damage require separate coverage, a gap that catches many owners off guard in catastrophe-prone regions. Ordinance or law exposure is another frequent blind spot: if local building codes have changed since your property was built, a partial loss can trigger a full rebuild to current standards at a cost standard policies don't cover. A coverage review before a claim is far less expensive than discovering these gaps after one.

Actual cash value pays what your property was worth at the time of loss, factoring in depreciation. Replacement cost coverage pays what it  costs to rebuild or repair with materials of similar kind and quality, without deducting for age or wear. For residential properties, the difference can be substantial. A 20-year-old roof that costs $80,000 to replace might only carry $35,000 in actual cash value, and if your policy settles on that basis, you absorb the difference. Replacement cost coverage eliminates that gap and is the preferred standard for most residential property owners who want to be made whole after a loss.

Many standard property policies include a vacancy clause that suspends or significantly limits coverage after a property has been unoccupied for 30 to 60 consecutive days. Vandalism, glass breakage and certain water damage losses are commonly excluded once that threshold is crossed, and a claim during an undisclosed vacancy period can be denied entirely. Landlord insurance and rental property insurance programs can be structured with vacancy provisions that reflect the realities of lease transitions, renovations and seasonal properties, but this requires proactive planning before a loss occurs.

Construction costs have risen sharply in recent years, meaning properties insured at values set several years ago are frequently underinsured today. When your insured value falls below the threshold required by your policy's co-insurance clause, you become a co-insurer on your own loss. The co-insurance penalty reduces your claim payment proportionally, even on a partial loss. A property insured for $1.5 million that should be insured for $2 million may only recover 75 cents on every dollar of a covered claim. Regular valuations keep your replacement cost coverage aligned with what rebuilding costs in today's market, and HUB advisors can coordinate appraisals and policy reviews to close that gap before it becomes a problem.

Standard property policies cover physical damage, not the management decisions and governance actions that generate their own category of liability. Property manager insurance should include errors and omissions (E&O) coverage, which protects against claims that a management decision caused financial harm to a property owner or tenant. HOA insurance programs need directors and officers (D&O) coverage for board members facing claims related to rule enforcement, budget decisions or failure to maintain common areas. Employment practices liability is another exposure for organizations with staff. None of these are addressed under a standard property or general liability insurance  policy, and each requires separate coverage that reflects how the organization actually operates.

Liability reduction starts with documentation and maintenance. Consistent inspection records, written maintenance logs and prompt response to reported hazards create a defensible record if a claim arises. Vendor contracts should include indemnification language and require certificates of insurance, as a contractor's injury on your property can otherwise become your liability. Common areas, parking structures and amenity spaces warrant particular attention, as these generate a disproportionate share of premises liability claims. For condo association insurance and HOA insurance programs, formal board meeting minutes demonstrate that decisions were made deliberately and in good faith. HUB advisors can conduct risk assessments that identify your highest-exposure areas and recommend both coverage adjustments and operational practices to address them.