Once a rental property reaches five or more units, it usually moves out of the personal landlord market and onto a commercial habitational policy. The coverage decisions get bigger with the building: how it is valued, what the deductibles are, how loss of rents is handled, and which carrier is comfortable with its age and location. Portsmouth Atlantic Insurance is an independent agency, so we compare those choices across several markets instead of offering one company’s answer.
We write commercial insurance for habitational risks only, meaning apartment buildings and condominium associations. If you own a one- to four-family rental, start with our landlord insurance page instead.
What a 5+ unit apartment building policy covers
Every policy is different, and the actual coverage depends on the forms and endorsements the carrier issues. Most commercial habitational programs are built from these parts:
- Building property. The structure, including common areas, at a replacement cost or other valuation shown on the policy.
- Loss of rents (business income). Rent you lose while the building is being repaired after a covered loss.
- Premises liability. Injury claims from tenants, guests, or visitors arising from common areas, stairways, parking, and walkways.
- Ordinance or law. Extra cost to rebuild to current building codes after a covered loss, which matters on older buildings.
- Equipment breakdown. Boilers, heating plants, and electrical systems that serve the whole building.
- Water backup. Often an endorsement rather than automatic, so we confirm it is on the policy.
Flood is excluded from standard commercial property policies and needs its own policy. Higher liability limits usually come from an umbrella policy.
Why comparing carriers matters more on larger buildings
On a single-family rental, two quotes may look nearly alike. On a 12-unit brick building from the early 1900s, they often do not. One carrier may prefer newer construction, another may be comfortable with older masonry and updated systems, and each words its deductibles, valuation, and water coverage a little differently. The bigger the building, the more those differences add up for you.
Because we work with 40+ carriers, we can put several habitational markets side by side and explain the tradeoffs in plain language. For apartment buildings, the carriers we often look at include Vermont Mutual, Andover Companies, Safety Insurance, Concord Group, and Providence Mutual. In New Hampshire, all five are options. Insuring a building in Connecticut? See our Connecticut apartment building insurance page. We choose among the carriers available in your state based on how well each fits your building, not on a single default.
Apartment buildings in Portsmouth and the Seacoast, NH
Older multi-family housing stock
Portsmouth is one of the oldest cities in the country, settled in 1623, and much of the multi-family housing in Portsmouth, Dover, and the surrounding Seacoast towns sits in converted homes, mill-era buildings, and older brick blocks. That character is a big part of their value, and it shapes the insurance. Carriers will ask about the roof, wiring, plumbing, and heating updates. Ordinance-or-law coverage matters, because rebuilding an older building after a loss usually means meeting today’s codes. Buildings built before 1978 also come with federal lead-based paint disclosure rules for landlords, which is worth keeping in mind when you talk with your agent about the building’s condition.
Nor’easters, winter, and coastal exposure
Seacoast winters bring nor’easters with heavy snow, wind, and coastal flooding along the Piscataqua River and the shoreline. The Blizzard of 1978 is still the storm many locals measure others against. For an apartment building, the practical questions are roof snow load, ice dams, frozen pipes in vacant or seasonal units, and whether the building sits in or near a flood zone. Our Seacoast NH flood insurance page goes deeper on the flood side.
Investor and landlord use cases
- A local owner moving from a three-family to a first five- or six-unit building and onto a commercial policy for the first time.
- An investor buying a downtown mixed-age building where several units were renovated at different times.
- A long-time owner whose building values have climbed and whose insured value has not kept pace.
Our Portsmouth, NH office works with Seacoast owners on all three.
Own an apartment building in Connecticut?
Connecticut buildings have their own carrier options, shoreline hurricane deductibles and Long Island Sound flood exposure. We cover them on a separate page: Connecticut apartment building insurance.
Flood insurance for apartment buildings
For residential buildings with five or more units, the National Flood Insurance Program offers its General Property form (condominium associations use a separate RCBAP form). We write NFIP coverage through Selective, a Write Your Own carrier. Because NFIP building limits may not reach the full value of a larger building, we also compare private flood options, including Flow Flood, Neptune Flood, Beyond Floods, The Flood Insurance Agency, CatCoverage, and Aon Edge. NFIP policies generally have a 30-day waiting period before coverage starts, with some exceptions, so plan ahead of a closing or renewal.
“Before you renew a policy on a five-plus unit building, pull the last appraisal and walk the building with your agent’s checklist: roof age, heating system, electrical, and how many units share each entry. On older Seacoast buildings, the replacement cost and ordinance-or-law choices usually matter more than anything on the quote page. Get those right first, then compare carriers.”
How to prepare for an apartment building quote
- Address, year built, construction type, and number of units and stories.
- Updates to the roof, electrical, plumbing, and heating, with years.
- Current declarations pages and loss history, if you have them.
- Lender requirements, including any required limits or deductibles.
- Occupancy details, such as vacant units or commercial tenants on the ground floor.
Ready to compare coverage for your apartment building?
Tell us about your building and we will compare habitational options from several of our 40+ carriers and walk you through the differences. Request an apartment building quote, or contact our team with questions.
Frequently asked questions
Is a five-unit building insured under a homeowners or landlord policy?
Usually not. Most personal landlord (dwelling fire) policies are written for one- to four-family homes. Once a building has five or more units, it is generally insured on a commercial habitational policy, which combines building property, loss of rents, and premises liability for apartment buildings. Our landlord insurance page covers the one- to four-unit side.
Does commercial apartment insurance cover flood?
No. Standard commercial property policies exclude flood. For a building with five or more residential units, the National Flood Insurance Program offers coverage through its General Property form, which we write through Selective as a Write Your Own carrier. We also compare private flood markets such as Flow Flood, Neptune Flood, Beyond Floods, The Flood Insurance Agency, CatCoverage, and Aon Edge.
Which carriers do you use for apartment buildings?
Portsmouth Atlantic Insurance is independent and works with 40+ carriers. For habitational risks, the carriers we often look at include Vermont Mutual, Andover Companies, Safety Insurance, Concord Group, and Providence Mutual. In New Hampshire, all five are options. Insuring a building in Connecticut? See our Connecticut apartment building insurance page. Which one fits depends on the building’s age, construction, location, and occupancy.
Do I need an umbrella policy for an apartment building?
Many owners add one. A building with several tenants, shared stairways, parking, and sidewalks has more places for an injury claim to start, and an umbrella adds liability limits above the primary policy. See our umbrella insurance page for how it fits.
Do you insure condo associations too?
Yes. On the commercial side, Portsmouth Atlantic writes habitational risks only: apartment buildings and condominium association master policies. We do not write other types of commercial insurance.