Multi-family program
Welcome to Benchmark Insurance Group, where we redefine the landscape of insurance with our exclusive Multi-Family Program. Tailored to meet the unique needs of property owners and managers in the multi-family housing sector, our program stands as a beacon of comprehensive coverage, strategic risk management, and industry expertise.
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About our Multi-family program
At Benchmark Insurance Group, we understand the distinctive challenges and opportunities that come with managing multi-family properties. Our Multi-Family Program is crafted to address the diverse insurance needs of property owners, property managers, and real estate investors operating in this dynamic sector. Whether you own apartment complexes, condominiums, or townhouses, our program offers a holistic approach to risk management and insurance solutions.
Key features of our Multi-family program
Property coverage
Comprehensive protection for your multi-family properties, covering buildings, common areas, and structural components. Our coverage extends to damages caused by perils such as fire, vandalism, and natural disasters.
Liability insurance
Safeguard your financial interests with robust liability coverage. Our program includes coverage for bodily injury, property damage, and legal expenses arising from third-party claims, providing peace of mind for property owners and managers.
Business interruption coverage
Protect your income stream with business interruption coverage. In the event of a covered loss that disrupts your property's operations, this coverage ensures compensation for lost rental income and additional expenses.
Tenant discrimination insurance
Mitigate the risks associated with tenant-related disputes by opting for our Tenant Discrimination Insurance. This coverage protects against claims of alleged discrimination in tenant selection or treatment.
Workers' compensation
Prioritize the well-being of your on-site staff with our Workers' Compensation coverage. This essential protection ensures that medical expenses and lost wages are covered in the event of work-related injuries.
Why choose Benchmark's
Multi-family program
01 Industry expertise
Benchmark Insurance Group boasts a team with specialized expertise in the real estate industry. Our in-depth knowledge of the multi-family housing sector allows us to offer insights and tailored solutions that resonate with the specific challenges of property ownership and management.
02 Customized solutions
We understand that each multi-family property is unique. Our team collaborates closely with property owners and managers to customize insurance solutions that align with the distinct characteristics and risks of their properties.
03 Risk management
Beyond insurance, we offer proactive risk management strategies to help identify and mitigate potential risks associated with multi-family properties. Our goal is to create a safer living environment and enhance the overall risk profile of your properties.
Frequently asked questions
Our program is scalable and can be tailored to fit the unique needs of properties of various sizes, from small apartment complexes to large multi-building developments.
Property insurance includes coverage for perils such as fire, vandalism, windstorm, hail, and other named perils, providing comprehensive protection for multi-family properties.
Yes, our liability coverage is designed to protect both property owners and property managers from third-party claims, providing a comprehensive layer of protection.
We understand the urgency of securing coverage for new properties. Our streamlined processes allow us to provide prompt service, ensuring that your properties are protected without unnecessary delays.
Secure your
Multi-family properties
with Benchmark insurance group
Properties we insure
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An apartment is a self-contained housing unit that is part of a larger residential building or complex. Apartments are designed to provide living spaces for individuals, families, or households within a multi-unit structure. They are a common form of housing in urban and suburban areas, offering a range of sizes and configurations to accommodate different lifestyles and needs.
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A duplex is a residential building that contains two separate housing units, each with its own separate entrance. These units are usually side by side, and each unit typically occupies one floor, though there are variations in architectural design. Duplexes are a form of multi-family housing and are commonly found in urban and suburban areas.
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A triplex is a residential building that contains three separate housing units or apartments. Similar to duplexes (which have two units), triplexes are a form of multi-family housing and are designed to accommodate three distinct households or tenants within a single structure. Triplexes can be found in various urban and suburban settings and provide a balance between the communal living of multi-family housing and the relative independence of separate living units.
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Large apartment complexes are residential developments that consist of multiple buildings or structures, each containing numerous individual apartment units. These complexes are designed to accommodate a substantial number of residents and often offer a wide range of amenities and services. Large apartment complexes are commonly found in urban and suburban areas, providing a significant housing option for individuals and families.
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Condos, short for condominiums, are a form of residential housing characterized by individual ownership of a unit within a larger building or community. Condominiums offer a housing arrangement that combines elements of apartment living with individual ownership. While the interior of a condo is individually owned, the common areas and exterior of the building are typically managed collectively by a homeowners' association (HOA) or a similar governing body.
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Townhomes, also known as townhouses, are a style of residential housing characterized by multiple units arranged in a row or block and sharing common walls. Townhomes are an intermediate housing option that combines features of both single-family homes and condominiums. Each townhome unit is individually owned, and they are typically arranged in rows within a larger complex or community.
Types of customers
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Property managers
A property manager is a professional hired to oversee the day-to-day operations of a real estate property on behalf of the property owner. The role of a property manager involves a range of responsibilities related to the management and maintenance of the property, ensuring its smooth operation, and maximizing its value. Property managers work with various types of real estate, including residential, commercial, and industrial properties.
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Portfolio managers
Portfolio managers are financial professionals responsible for managing investment portfolios on behalf of individuals, institutions, or funds. Their primary objective is to optimize the performance of the portfolio by making strategic investment decisions based on the goals, risk tolerance, and preferences of the investors or the entity they represent. Portfolio managers work in various financial institutions, including asset management firms, mutual funds, pension funds, and hedge funds.
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Real estate developers
Real estate developers are individuals or entities that are involved in the acquisition, financing, planning, design, construction, and management of real estate projects. These projects can range from residential and commercial properties to industrial complexes and mixed-use developments. Real estate developers play a key role in shaping the built environment and contributing to urban and economic development.
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Private equity firms
Private equity firms are investment management entities that pool capital from various sources to invest in privately held companies or engage in buyouts of public companies, taking them private. Private equity (PE) is a form of alternative investment that involves making direct investments in private companies or acquiring public companies and converting them into privately held entities.
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Wholesalers
In various industries, including real estate and retail, wholesalers are intermediaries or middlemen who facilitate the distribution of goods or services between manufacturers, producers, or other suppliers and retailers or end consumers. Their primary function is to buy products in bulk from producers and sell them in smaller quantities to retailers or other businesses. In the context of real estate, a real estate wholesaler engages in a similar process but with properties instead of physical goods.
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Multi family investors
Multi-family investors are individuals or entities that focus on investing in residential properties that contain multiple housing units within a single building or complex. Multi-family properties can range from duplexes and triplexes to larger apartment buildings or condominium developments. The primary objective for multi-family investors is often to generate rental income by leasing out multiple units to tenants.
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Real estate investors
Real estate investors are individuals or entities that invest money in real estate with the expectation of generating a return on investment (ROI). Real estate investment involves the acquisition, ownership, management, rental, or sale of properties for profit. Investors engage in real estate for various reasons, including building wealth, generating passive income, diversifying their investment portfolios, or taking advantage of potential tax benefits.
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Private money lenders
Private money lenders, also known as private lenders or private investors, are individuals or non-institutional entities that provide loans to borrowers, typically for real estate investments or business purposes. Unlike traditional banks or financial institutions, private money lenders operate independently and may have more flexible lending criteria. They play a crucial role in the world of alternative financing, offering borrowers access to capital when traditional avenues may be challenging to navigate.
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Asset managers
Asset managers are financial professionals or firms responsible for managing and overseeing a client’s investment portfolio. Their primary objective is to optimize the performance of the portfolio by making strategic investment decisions aligned with the client’s financial goals, risk tolerance, and investment horizon. Asset managers work across various asset classes, including stocks, bonds, real estate, and alternative investments, to create diversified portfolios that meet their clients’ objectives.
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Real estate agents
Real estate agents, also known as real estate salespersons or Realtors® (a trademark term of the National Association of Realtors in the United States), are licensed professionals who assist individuals in buying, selling, or renting real estate properties. Real estate agents act as intermediaries, facilitating transactions between property buyers and sellers. They play a crucial role in helping clients navigate the complexities of the real estate market.
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Single family investors
Single-family investors, also known as single-family home investors or single-family property investors, are individuals or entities that focus on investing in residential properties that consist of a single dwelling unit. These investors typically purchase single-family homes for various purposes, including rental income, property appreciation, and long-term wealth-building.
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Banks forced placed policies
Forced placed insurance, also known as lender-placed insurance, is a type of insurance policy that a bank or mortgage servicer may impose on a property owner if the owner’s existing insurance coverage lapses or is deemed insufficient. This type of insurance is “force-placed” by the lender to protect its interest in the property.