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Managing portfolios of 1,000 to 10,000+ units means insurance is a high-stakes operating expense. We understand the pressure - increasingly restrictive carrier appetites can disrupt your NOI, while other providers nickel-and-dime you with exclusions and slow approvals.
At Multifamily Risk Advisors, we specialize in finding coverage that protects both the asset and your cash flow. With direct access to savvy underwriters, we help you get multifamily insurance at fair pricing with fewer exclusions, faster than industry standards.
Multifamily insurance is a specialized insurance that protects residential rental properties like apartment buildings or condominiums. It covers risks to the building, income, and liability for tenants and visitors.
In commercial real estate, “multifamily” typically refers to properties with 5 or more units. At the MFRA, we specialize in mid- to large-scale assets, generally 1,000 units and above. This includes garden-style communities, mid-rise and high-rise buildings, and multi-property portfolios.
A portfolio or habitational insurance program can cover multiple buildings under one plan. It simplifies management and often reduces costs compared with separate policies.
Multifamily property owners and managers usually insure the building itself, liability for injuries, lost rental income, and sometimes equipment or appliances that are part of the property. However, your minimum coverage is usually set by the lender, since most loans require specific limits and protections before funding.
At Multifamily Risk Advisors, we help ensure full lender-requirement compliance during acquisitions or refinances so your habitational insurance program is both compliant and cost-efficient.
At a minimum, coverage should protect the building’s full replacement cost, include liability limits high enough to cover potential claims, and consider lost income coverage. Exact amounts depend on property size, location, and risk factors. Lenders also set mandatory coverage thresholds, deductibles, and endorsements, all of which must be met to avoid compliance issues or delays in funding.
Generally, the 80% rule states that a property should be insured for at least 80% of its replacement cost to avoid a reduced claims payout. But some policies use 90% or even 100% insurance-to-value requirements, which means that insuring at only 80% could still trigger a co-insurance penalty. The most reliable way to avoid this is to secure an agreed value endorsement, which waives the co-insurance penalty for the term specified in the policy.