Owning or managing apartments in Florida means balancing hurricane season, lenders, residents, vendors and staff. Our job is to make the insurance side clear: what each part of your program does, where gaps usually hide, and what you can do besides buying insurance to keep risk and cost down.

McGriff-Williams has served North Central and Northeast Florida since 1983, from Gainesville and Ocala to Jacksonville and St. Augustine. We’re independent, so we compare options from multiple insurance companies for you, and we’ll always tell you plainly what we see.

Property, Wind and Flood

Property coverage is usually the biggest piece of an apartment program in Florida, and the details matter as much as the price.

  • Building values. Your limits should reflect what it would cost to rebuild today, not what you paid or what the property would appraise for. We’ll help you build and update a statement of values (unit counts, square footage, construction, roof and system updates).
  • Coinsurance. Most commercial property policies include a coinsurance clause (often 80%–90%). If your limit is below that share of the building’s true replacement cost, a claim payment can be reduced, even on a partial loss. An agreed value option, when available, can set that clause aside for the policy term.
  • Windstorm and hurricane deductibles. Commercial residential hurricane deductibles are usually a percentage of each building’s insured value (commonly 2%–5%, sometimes higher near the coast), and they may apply per building or across all buildings in one storm. Many apartment properties are insured in the surplus lines market, where hurricane deductible terms vary from policy to policy. Ask whether yours applies once per calendar year or to each hurricane, because that can make a big difference in a busy storm season. Some policies also use a “named storm” or “windstorm” deductible, so it’s worth checking what triggers it. We’ll show you what each option means in dollars.
  • Flood. Flood is excluded from standard property policies. Through the National Flood Insurance Program (NFIP), building coverage tops out at $500,000 per building for apartment buildings with five or more units, or $250,000 for two- to four-unit buildings, and contents coverage tops out at $100,000. NFIP doesn’t cover lost rent, and new policies usually have a 30-day waiting period. Many properties are worth more than these limits, and some lenders require more, so we also look at private and excess flood options that can add higher limits and loss of rents. See our flood insurance guide.
  • Ordinance or law. If an older building is damaged, current building codes can raise the cost to rebuild. This coverage helps close that gap. It typically has three parts: the value of the undamaged portion you’re required to tear down, demolition and debris costs, and the extra cost to build to current code. Many standard policies include little or none of this.

Loss of Rents

If a covered loss makes units unlivable, rent stops but the mortgage doesn’t. Loss of rents (business income) coverage replaces rental income while you repair. It only responds to a covered cause of loss, so rent lost to a flood isn’t covered unless you have flood coverage that includes it. We’ll help you choose a limit and time period that fit realistic rebuild times, and ask about an extended period of indemnity, since lease-up after a major rebuild can take months.

Gainesville apartment owners: what to look at

Do you insure apartments in Gainesville? Yes. Our office is at 3501 W University Ave, and we’ve worked with Gainesville property owners since 1983. We work with apartment owners and managers across Alachua County and throughout North Central and Northeast Florida, from Ocala to Jacksonville and St. Augustine.

Gainesville’s rental market has its own patterns, and they show up in underwriting:

  • Student housing. Many properties near the University of Florida and Santa Fe College lease to students, sometimes by the bedroom. Underwriters often ask what share of residents are students and how units are leased, and some insurance programs limit or exclude student housing. Tell us your occupancy mix up front; applications often ask for it.
  • Older garden-style buildings. Some local complexes are older two- and three-story garden-style buildings. Roof age, wiring, plumbing and the updates you’ve made can affect eligibility and price, and an accurate statement of values matters.
  • Older roofs and building code. Under the Florida Building Code, when more than 25% of a roof or roof section is repaired, replaced or recovered within 12 months, the entire roofing system or roof section generally has to be replaced to meet current code. Roofs built, repaired or replaced in compliance with the 2007 Florida Building Code or a later edition are an exception: only the repaired or replaced portion has to meet current code (section 553.844(5), Florida Statutes). Roof permit records show which code applied. For older roofs, ordinance or law coverage can help pay for code-required work, depending on your policy’s terms and limits.
  • Inland doesn’t mean no wind. Most of Alachua County is outside Florida’s wind-borne debris region, but buildings here are still designed for strong wind, and wind coverage and its deductible still matter. Deductible terms vary by policy, so we read your declarations page with you.

Liability and Umbrella

Apartment liability claims can be serious: slips and falls, pool injuries, dog bites, and negligent security claims, where someone is hurt by a crime on the property and says the owner should have prevented it. Two policies with the same limits can respond very differently, because the difference is often in the exclusions. We read the forms closely, including how the policy treats assault and battery, firearms, abuse, pools and animals. Many apartment policies exclude assault and battery or cap it at a lower sublimit, and firearms and abuse exclusions are common. Florida courts have generally enforced these exclusions as written. When one applies, the policy may not pay for a defense attorney, let alone a settlement. We also check whether your umbrella follows the primary policy or adds exclusions of its own, so you know where any gaps are before a claim.

In Florida, when someone is hurt by a crime on a property, the jury must also weigh the fault of the person who committed it, not just the property owner’s. Most injury lawsuits in Florida now have to be filed within two years, so report any incident on the property to us and your insurance company right away, even if no one has threatened to sue.

Florida’s 2023 tort reform created a legal presumption against liability for owners and operators of apartment properties with five or more units that substantially implement a list of security measures (section 768.0706, Florida Statutes). The presumption applies to crimes committed on the property by people who aren’t the owner’s employees or agents. The list includes security cameras at entrances and exits with footage kept at least 30 days, lighting in parking lots and common areas, deadbolts and window and door locks, peepholes, key or fob access to pool gates, a crime-prevention assessment no more than three years old, and security training for employees, including new hires within 60 days.

It’s a presumption, not a guarantee: you can still be sued, and it’s up to the owner to show the measures were in place. That’s why keeping records (assessment reports, camera logs, lighting checks and training dates) matters as much as the measures themselves. Documenting these measures can also strengthen your application with insurance companies, many of which ask about security at the property. We can share a checklist and explain how it ties into your insurance. Your attorney can tell you whether your property meets the law. (This is a general summary of Florida law, not legal advice.)

Crime, Cyber and Management Liability

  • Crime. Covers theft of funds, including rent payments, by employees or others.
  • Cyber. Residents’ personal and payment information makes apartments a target. Cyber coverage helps with breach response, notification and liability.
  • Employment practices. Covers claims from your own employees, such as discrimination or wrongful termination. These usually aren’t covered by general liability.

Workers’ Compensation for Your Team

Leasing, maintenance and grounds staff face real injury risks: ladders, lifting and slips. Florida generally requires workers’ compensation once a non-construction business has four or more employees, full- or part-time. Corporate officers count unless they’ve filed an exemption. Having the right job classifications on the policy keeps your premium accurate. If your team handles renovations or unit turns beyond routine maintenance, or if vendors work without their own coverage, your workers’ comp rules and audit can change. We’ll help you sort that out, including what to look for on your vendors’ certificates of insurance. Learn more about our workers’ compensation services.

Beyond the Policy: Help That Isn’t Insurance

Good insurance is only part of managing risk. We also bring tools that make your job easier:

  • Reading vendor certificates. We show you how to read a certificate of insurance from landscapers, pool companies, security vendors and other contractors, and what to check (policy dates, limits and additional insured wording), so you can keep your own records up to date. A certificate is for information only. It doesn’t change or add coverage. The policy and its endorsements do.
  • Lease and contract reviews. We review the insurance requirements in your leases and vendor contracts so they match what you need, and what your own policy requires of vendors.
  • Workers’ comp and GL audit support. We help you prepare for premium audits and question results that don’t look right.
  • Safety and HR resources. Safety training, OSHA support and access to live HR professionals.

How We Work With You

  1. Listen first. We learn about your properties and goals.
  2. Review everything. We look at your current policies, your statement of values and your contracts.
  3. Show you a plan. You get clear recommendations, including any gaps we found, before you make any decision.
  4. Stay with you. Certificates, renewals and claims support all year.

What drives the cost of apartment insurance?

Apartment premiums are built from each property’s details. Common factors include:

  • Building values. Your statement of values: units, square footage and what it would cost to rebuild.
  • Construction, age and roof. Frame or masonry, year built, roof age and system updates.
  • Location and wind exposure.
  • Deductibles. Wind and named-storm deductible terms vary from policy to policy, especially in the surplus lines market, where many apartment properties are insured.
  • Occupancy. Including student housing, and how units are leased.
  • Security measures, liability limits and claims history.

Market context (CIAB Q2 2026 data, published Aug. 18, 2026; Citizens rates effective July 1, 2026): Nationally, the Council of Insurance Agents & Brokers reported that commercial property premiums fell an average of 6.3% in the second quarter of 2026. That’s a U.S. average across all commercial property, not a Florida apartment figure. In Florida, Citizens Property Insurance Corporation, Florida’s state-created insurer, was approved for an overall average increase of 7.2% on its commercial residential multiperil policies other than condominium associations (it had requested 10.9%; OIR final order, March 2, 2026). The change applies to new and renewal policies effective on or after July 1, 2026 (Citizens bulletin, April 30, 2026). Changes for individual properties vary. Many apartment properties are insured in the surplus lines market, where rates aren’t filed with or approved by the state. None of these averages predicts what your property will pay.

We can’t give a price without a few details. Here’s what we need.

How to get a quote

What we’ll need:

  • Property address (or addresses)
  • Number of units and buildings
  • Year built and roof year
  • Your current statement of values, if you have one
  • Current policy expiration date

What happens next: A licensed member of our team will review your request and contact you by phone or email.

Why it isn’t instant: We compare options from multiple insurance companies, and coverage isn’t in place until it’s bound.

Request a quote: Request a quote · Call (352) 371-7977 · Monday–Friday, 9 a.m.–5 p.m.

    For apartment buildings and other residential rental properties.

    We'll use your information to call or email you about your quote request. We don't send mass marketing texts. We don't sell your information.

    McGriff-Williams Insurance · 3501 W University Ave, Gainesville, FL 32607

    Frequently asked questions

    Is flood required for my apartment property?

    It depends on your flood zone and your lender. Even when it isn’t required, it’s worth discussing, since most property policies exclude flood.

    Can you help if my current carrier non-renewed my property?

    Yes. Florida generally requires licensed insurers to give at least 120 days’ written notice, with the reason, before non-renewing or canceling a commercial residential policy such as an apartment building (shorter notice applies for nonpayment). Policies placed with surplus lines insurers can have as little as 45 days’ notice of nonrenewal, so contact us as soon as you get one. See our second-opinion review.

    Does student housing affect apartment insurance?

    It can. Underwriters often ask what share of residents are students and how units are leased, and some insurance programs limit or exclude student housing. Telling us your occupancy mix up front helps us look for insurance companies that write it.

    What is a statement of values?

    A schedule of each building you insure, usually with its address, number of units, square footage, construction, year built, roof year and replacement cost (the cost to rebuild, which isn’t the same as market value). It often also lists contents and business income (lost rents) values. Insurance companies use it to price your policy and set limits. On some policies, the scheduled values can also cap what’s paid for a building or location and set the dollar amount of percentage deductibles, so keeping it current matters.

    How do wind deductibles work on apartment policies?

    Many apartment policies have one deductible for named storms (hurricanes and tropical storms) and another for other wind or hail. Wind deductibles are often a percentage of insured values, which can include business income (lost rents), and some are a flat dollar amount, often with a minimum. A percentage may be applied per building, per location, or to all values in one storm. Terms vary from policy to policy, especially in the surplus lines market, so we read your declarations page with you and show what the deductible means in dollars.

    Let’s Review Your Apartment Program

    Whether you own one community or a growing portfolio, we’ll help you feel confident in your coverage. Call us at (352) 371-7977 or request an apartment insurance review.

    General information, not legal or coverage advice. Coverage depends on the policy issued, its terms and underwriting. McGriff-Williams Insurance is an independent insurance agency licensed in Florida.

    Sources: Florida Statutes s. 553.844(5) (2026), https://www.flsenate.gov/Laws/Statutes/2026/553.844 ; 2023 Florida Building Code, Existing Building (8th Ed.), s. 706.1.1 (also Building s. 1511.1.1) ; CIAB Q2 2026 via Insurance Journal (Aug 20, 2026), https://www.insurancejournal.com/news/national/2026/08/20/882240.htm ; OIR final order on Citizens’ 2026 rate filings (served Mar. 2, 2026), in the Citizens board packet: https://www.citizensfla.com/documents/20702/39729211/20260304+03Ba+2026+Rate+Filing+Update+ph.pdf ; Citizens 2026 rate bulletin (Apr 30, 2026), https://www.citizensfla.com/-/20260430-2026-rate-and-rule-changes .