Real Estate and Habitational Insurance
Real estate and habitational insurance covers the buildings, rental income, and liability that come with owning and leasing property, from a single rental to a large portfolio. Programs typically combine building and liability coverage with loss of rents, and in California earthquake and flood are usually handled separately from a standard property policy.
Owning and leasing property in California carries a distinct set of risks, and the coverage that protects it looks different from a standard business or home policy. At SIA, insuring buildings, rental property, and communities is a specialty we write heavily, and we help owners across the state build programs that fit how their property actually operates.
Property splits two ways here, and the coverage follows the split. On the habitational side, apartment and multifamily buildings and community associations carry tenant and resident exposures that a general commercial policy handles poorly. On the commercial side, commercial real estate, lessor’s risk only for owners leasing to business tenants, and vacant commercial buildings each sit on their own form. Smaller residential rentals are usually written as landlord insurance, and a unit owner’s own policy is condo HO-6 coverage.
What does real estate and habitational insurance cover?
- Building and property coverage for the structure and owned contents.
- Premises and general liability for injuries to tenants and visitors.
- Loss of rents / business income when a covered loss makes units unrentable.
- Commercial umbrella for liability above your underlying limits.
- Earthquake and flood, which are typically separate from a standard property policy in California.
- Directors and officers for community association boards.
- Workers’ compensation where you have on-site staff.
Who needs it? Apartment and multifamily building owners; homeowners and community associations (HOAs) and their boards; owners who lease commercial, retail, or office space to tenants; and investors and owners of commercial real estate.
California ownership brings exposures that many standard policies leave out. Earthquake and flood are typically excluded from property policies and handled separately. In wildfire-exposed areas, structure coverage can sometimes be arranged through the California FAIR Plan paired with a difference-in-conditions policy for the perils the FAIR Plan does not include. When we place FAIR Plan coverage, we act as your broker and represent you, not the California FAIR Plan.
How we help: We start by understanding your property, your leases, and how the building is used, then map your exposures to coverage in plain language. As a local advisor, we stay with you through renewals, changes in occupancy, and, if a loss occurs, we advocate for you through the claims process.
