When it comes to safeguarding your property, having the right coverage is essential. HabPro Insurance offers tailored solutions for small and middle-market habitational risks, ensuring your home or commercial real estate is protected. Available in 46 states, this specialty provider focuses on apartments, condos, 55+ communities, and mixed-use buildings with up to 33% mercantile space.
Designed for properties built in 1985 or later, HabPro provides up to $50M single location limits for Class A and B properties. Their niche coverage includes subsidized housing like Section 8 and LIHTC, as well as student housing not operated by colleges. With built-in property enhancement endorsements, they address hard-to-place risks effectively.
Backed by an A+ rated carrier, HabPro ensures peace of mind for property owners. Whether you’re managing apartments or mixed-use spaces, their competitive solutions are crafted to meet the unique needs of the market habitational risks.
Key Takeaways
- HabPro offers specialized coverage for habitational and commercial real estate.
- Available in 46 states with $50M single location limits.
- Covers subsidized housing (Section 8/LIHTC) and student housing.
- Includes property enhancement endorsements for added protection.
- Focuses on properties built in 1985 or later.
What is HabPro Insurance?
Protecting your property requires tailored solutions that address unique risks. This program focuses on multifamily dwellings and mixed-use properties, offering specialized coverage for habitational components. Whether it’s 2-4 plexes, hotels, or renovated older buildings, the program ensures comprehensive protection.
Specialized Coverage for Habitational Properties
The program includes unique extensions like sump overflow protection and employee theft coverage. It also provides water backup, employee dishonesty, and ordinance/law coverage (A, B, C up to 10%). General liability limits are set at $1M/$2M, ensuring robust protection for property owners.
One standout feature is the flexibility for renovated properties. There are no age restrictions, and non-sprinklered frame construction is accepted. This makes it an ideal choice for properties with unique habitational risks.
Built by NSM Insurance Group
Administered by NSM Insurance Group, this program benefits from over 35 years of specialty experience. NSM’s expertise ensures that even non-admitted risks are covered, with property limits reaching up to $50M. Their deep understanding of the market allows them to craft creative and competitive solutions.
“NSM’s commitment to innovation and expertise makes them a trusted partner in the habitational insurance space.”
For property owners and managers, this program offers peace of mind. It’s designed to meet the evolving needs of the business, providing reliable coverage for a wide range of habitational properties.
HabPro Insurance Coverage Options
Understanding your property’s unique needs is the first step to effective protection. This program offers a range of coverage options designed to address specific risks in the habitational and commercial market. From property enhancements to specialized protections, these solutions ensure your investments are safeguarded.
Commercial Property Coverage
This program includes enhancements like replacement cost valuation and agreed value options. These features ensure your property is covered at its full value, minimizing out-of-pocket expenses during repairs or replacements.
Equipment Breakdown and Business Income
Protect critical systems like HVAC, elevators, and boilers with equipment breakdown coverage. Additionally, business income coverage compensates for lost rents during repairs, keeping your business operational.
Hired & Non-Owned Auto Insurance
For properties using vehicles for resident shuttle services or maintenance, this coverage extends to non-owned vehicles. It ensures liability protection for accidents or damages during operations.
Ordinance & Law Enforcement Coverage
Upgrade costs due to code changes are covered up to 10% of the limit. This includes sections A, B, and C, ensuring compliance with local regulations without financial strain.
| Coverage Type | Key Features |
|---|---|
| Commercial Property | Replacement cost, agreed value options |
| Equipment Breakdown | HVAC, elevators, boilers protection |
| Business Income | Lost rent compensation during repairs |
| Hired & Non-Owned Auto | Liability for shuttle and maintenance vehicles |
| Ordinance & Law | Code upgrade costs up to 10% of limit |
Why Choose HabPro Insurance?
Navigating the complexities of property risks requires a trusted partner. With HabPro, property owners gain access to tailored solutions designed to meet their unique needs. Backed by an A+ rated national carrier, this program offers unmatched reliability and financial strength.
A+ Rated National Carrier
HabPro is supported by an AM Best A+ rated carrier, ensuring financial stability and peace of mind. This rating reflects the carrier’s ability to meet policyholder obligations, even in challenging times. Property owners can trust that their investments are in safe hands.
Competitive and Creative Solutions
For distressed properties or non-traditional occupancy, HabPro offers creative solutions. Their exclusive policy forms and manuscript policies address unique risks, providing flexibility where traditional markets fall short. Premium credits of up to 10% are available for properties with favorable loss histories, making it a cost-effective choice.
Dedicated Underwriting Expertise
HabPro’s dedicated underwriting team brings specialized knowledge to the table. They understand the complexities of LIHTC properties and affordable housing compliance, ensuring tailored coverage for every client. With direct underwriting authority, quotes are delivered faster than traditional markets.
“Our team’s expertise and commitment to innovation set us apart in the habitational insurance market.”
| Feature | Benefit |
|---|---|
| A+ Rated Carrier | Financial stability and reliability |
| Creative Solutions | Flexible policies for unique risks |
| Dedicated Underwriting Team | Specialized knowledge and faster quotes |
| Premium Credits | Up to 10% savings for claims-free history |
Conclusion
Finding the right protection for your property doesn’t have to be complicated. This program stands out with its national capacity and niche expertise in habitational risks. Agents can easily access instant quotes through the digital submission portal, making the process efficient and hassle-free.
For those seeking detailed information, program guides and supplemental coverage endorsements are readily available. The responsive underwriting team is equipped to handle complex submissions, ensuring tailored solutions for unique needs.
Don’t wait—request a quote today and match your renewal date seamlessly. This is your opportunity to secure comprehensive protection with a trusted provider.
FAQ
What is HabPro Insurance?
HabPro Insurance offers specialized coverage for habitational properties, providing tailored solutions for apartments and other residential real estate needs.
Who provides HabPro Insurance?
HabPro Insurance is built by NSM Insurance Group, a trusted name in the industry known for its expertise and reliable programs.
What types of coverage does HabPro Insurance offer?
HabPro Insurance provides options like commercial property coverage, equipment breakdown, business income protection, hired & non-owned auto insurance, and ordinance & law enforcement coverage.
Why should I choose HabPro Insurance?
HabPro Insurance is backed by an A+ rated national carrier, offering competitive and creative solutions with dedicated underwriting expertise to meet your specific needs.
Is HabPro Insurance suitable for commercial real estate?
Yes, HabPro Insurance is designed to address the unique risks associated with commercial real estate, including apartments and other habitational properties.
