You wake up to a call in the middle of the night from your property manager. He alerts you that one of your apartment buildings is on fire. You jump out of bed and rush to the site only to see the fire department hosing down the remaining half of your building. You just paid your renewal, and email your agent to let him know about the loss. Thankfully, no one was seriously hurt in your building. The next morning, an adjuster calls to notify you that your entire building needs to be torn down, due to extensive damage and a city ordinance requiring demolition. Your building was only insured 50% to value, and the expected reconstruction will not only cost you twice as much as your policy’s limit of coverage, but the updated building codes now require you to install sprinklers and a central fire alarm, estimated at an additional out of pocket expense of $150,000. On top of that our agent never recommended debris removal coverage, and now you’re faced with another $50,000 out of pocket expense. Your tenants have been leaving you voicemails all day requesting reimbursement for accommodations at the local hotel. That afternoon, an attorney calls and claims he’s representing a tenant of a neighboring building, and her infant is in the hospital suffering from smoke inhalation. The current medical bill is already $75,000 and the infant is expected to stay in critical care for at least two more weeks. How will you cope with the loss of your investment and property and the thousands of dollars of associated expenses? Landlords run into disasters such as these every day resulting in business failure or bankruptcy. Our agency has Landlord Insurance Specialists who will consult with you to help understand your potential risks and design a personalized set of policies to make sure you are fully protected.