Apartment & Building Insurance

Insurance for apartment, office, and commercial building owners

Your building is likely one of your largest investments, and it comes with risks most businesses never face: tenants, visitors, lenders, and leases with their own insurance requirements. Archer Insurance Agency is an independent agency, so we compare carriers that specialize in real estate to build a program that protects the property, your rental income, and you.

Properties we insure

• Apartment buildings and complexes, from small multifamily to larger communities

• Duplexes, fourplexes, and portfolios of rental homes

• Office buildings and medical office buildings

• Retail centers, strip malls, and mixed-use buildings

• Warehouses, flex space, and light industrial buildings

• Property management companies that oversee buildings for owners

Common coverage for building owners

Every property is different. These are coverages building owners often consider, and we will help you decide which ones make sense for your building, your lender, and your leases.

• Commercial property: the building itself, plus equipment you own, against fire, wind, hail, theft, vandalism, and other covered causes of loss

• Loss of rents / business income: replaces rental income while a damaged building is being repaired

• General liability: injuries to tenants' guests, visitors, and vendors in common areas, parking lots, and walkways

• Commercial umbrella: higher liability limits that many lenders require and that protect your equity from a large lawsuit

• Equipment breakdown: boilers, HVAC systems, elevators, and electrical equipment

• Ordinance or law: the extra cost of bringing an older building up to current code after a loss

• Workers' compensation: if you employ maintenance staff, leasing agents, or on-site managers

• Cyber liability and professional liability: for property managers who handle tenant data, rent payments, and owners' funds

Meeting lender and lease requirements

Lenders usually require specific property values, deductibles, liability limits, and named mortgagee wording. Commercial tenants may require you to carry certain coverage too, and you'll want tenants to name you as an additional insured on their policies. Send us your loan documents and leases and we'll make sure your coverage lines up, then issue the certificates.

What affects the cost of building insurance?

• The building's location, age, size, and construction type

• Roof age and condition, and updates to wiring, plumbing, and HVAC

• Sprinklers, alarms, and other protection

• Occupancy: residential tenants, offices, retail, or restaurants

• Claims history, deductibles, and the limits you choose

Building owner FAQs

Is landlord insurance the same as commercial property insurance?

Not exactly. A landlord policy usually covers one to four rental homes or units. Apartment buildings, office buildings, and mixed-use properties are typically insured on a commercial property and liability program.

Do my tenants need their own insurance?

Yes. Your policy covers the building, not tenants' belongings or their liability. Many owners require residential tenants to carry renters insurance and commercial tenants to carry general liability naming the owner as additional insured.

Should I insure at replacement cost or actual cash value?

Replacement cost pays to rebuild without deducting for depreciation, so it usually provides much better protection. Actual cash value costs less but can leave a large gap after a loss. We'll show you both so you can decide.

Can you insure buildings outside Tennessee?

Yes. We work with property owners in many states. Tell us where your buildings are and we'll confirm options.

Ready for a quote on your building? Call 865-392-8200 or request a quote. You can also see all of our commercial insurance options.