Habitational risks are covered under a Business Insurance Policy. A habitational risk insurance policy is designed for commercial residential properties such as apartment buildings, homeowners associations, rented houses and condominiums.
Business Insurance Policies Provide Coverage for the Following Losses:
Fire and Lightning
Windstorm and Hail
Aircraft or Vehicles
Vandalism and Malicious Mischief
Business Insurance Policies do not just cover the building itself. There is also coverage for business personal property, personal property of others and business income and extra expenses. There is also liability protection.
Optional Insurance Coverages That May Be Added Include:
Loss of Rental Income
Replacement Cost on Building
Condominium Association Directors
Errors and Omissions