Apartment Building Insurance Seattle Washington

Apartment Building Insurance Seattle Washington – Call a Trusted Name in Washington Insurance!

Apartment Building Insurance Seattle Washington

If you manage or own apartment buildings and are in search of better options for Apartment Building Insurance in Seattle Washington or any of the surrounding areas — your search is over!

Call Duncan and Associates Insurance Brokers at 800-228-8291 today. We offer the best options for Apartment Building Insurance in Washington State.

Our offices are open Monday through Friday 8:30 AM – 5 PM. Agents are standing by to assist you with your search for Apartment Building Insurance in Seattle Washington.

To send us your information online at any time simply click one of the links below:

Apartment Building Insurance Seattle Washington – Do You Understand Your Landlord Policy?

In our last post, which can be read by clicking on Landlord Insurance Seattle Washington,

Our old pal Stevie Skeever had to deal with a couple of broken water pipes in one of his apartment complexes. The pipes froze and burst due to some harsh winter temperatures, and the damage was extensive.

Now that Stevie has filed a claim with his insurance company, let’s find out whether or not his landlord policy will cover the damage.

Coverage Scenario Continued:

Stevie opens the insurance company’s response with bated breath.

The letter states that the damages have been estimated at $12,200. Of this sum, $0 will be compensated by the insurance company.

“WHY?” screams Stevie as he storms out of the room?

That’s a good question. Why did they deny his claim? Let’s take a look at Stevie’s policy to find out.

You may recall from our earlier articles that Stevie purchased the Basic Coverage Form, which is the least expensive but also provides the least amount of coverage.

The Basic Coverage Form names specific perils for which coverage applies, and everything else would not be covered.

Note the following clause from Stevie’s policy:

The insurance company will cover direct physical loss to property caused by:

  1. Explosion

This peril does not apply to loss by explosion of steam boilers, steam pipes, steam turbines or steam engines owned by or leased by you or operated under your control.

Based on a quick glance it would appear that Stevie’s situation should be covered, but if we read on we find the following stipulation:

Explosion does not mean:

  1. Electric arcing;
  2. Breakage of water pipes; or
  3. Breakage or operation of pressure relief devices.

As can be seen above, Stevie’s policy explicitly states that even though he is covered for explosions, the insurance company does not consider the breakage of water pipes to be an explosion. Therefore, damage caused by broken water pipes is not covered under Stevie’s policy.

That’s another $12,200 down the drain for ol’ Stevie Skeever.

Next time we’ll take a look at yet another example of why it’s important to understand your policy.

Seattle Washington Landlord Insurance is Just a Call Away!

Allow Duncan and Associates Insurance Brokers to serve your landlord insurance needs. You can either call us at 800-228-8291 or click one of the following links to send your information to us online: