A well-structured General Liability program can significantly improve cost efficiency, risk control, and long-term outcomes for multifamily developers. Developers are paying for all General Liability insurance tied to their projects, whether that cost is visible or hidden. Developers can rely on the general contractor (GC) and subcontractors to carry coverage and build it into their…
Insurance costs for multifamily property owners rose significantly in 2020, compounding an already challenging multifamily market. Apartment owners saw insurance rates rise as much as 30%; assets that were viewed as challenged by the insurance marketplace made up the highest end of the spectrum. An increase of $50 a unit for insurance cost is meaningful…
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