No two properties are exactly alike—protect your assets while nurturing their individuality.
COVID-19 has played a pivotal role in shifting the demands of many industries—multifamily real estate is no exception. The influx of remote work and development of satellite offices has increased the need for apartments, condominiums, and townhomes. While this rapid growth presents property owners and building managers with many new opportunities, a great deal of risk also looms in the shadows.
Despite the ever-changing conditions of the real estate market, property owners have three-fold responsibility when it comes to insurance. Property owners must preserve their property and its surroundings, protect tenants and guests, and keep the public from harm. Fire, inclement weather, burglary, and vandalism are only some of the perils that can keep even the most relaxed property owner up a night. A comprehensive insurance policy must also include liability insurance to cover slip and falls and the cost of defending personal injury lawsuits. With the aid of an expertly crafted insurance package, you can rest easy knowing your multifamily real estate is covered.
Our expert brokers at BKS Partners understand the unique exposures that are faced by apartment building owners and property managers. Brokers evaluate these exposures on a routine basis to determine their possible liability and financial loss, then carry the appropriate insurance to match the liability and property damage risks. Insurance to value can only exist if property is insured to replacement cost, reflecting current market construction costs that are constantly in flux. Partnering with an expert like BKS is paramount because we have the tools, training, and expertise to properly evaluate your total risk and provide the proper amount of coverage.
BKS Partners’ team of multifamily property specialists has decades of experience in identifying, analyzing, and reducing total cost of risk. Our proprietary BKS Holistic Protection™ gives us the tools and understanding to develop comprehensive risk mapping and solutions designed to fit the needs of you and your multifamily properties.
The property insurance specialists at BKS Partners have extensive experience in commercial buildings and lessor’s risk. We stay on top of current real estate trends and market conditions to ensure the best available protection. Our expertise spans a wide range of tenant occupancy profiles. Whether your needs include retail strips with restaurant exposures or industrial buildings with heavy manufacturing, we can put together the right program to meet your needs.
