Commercial Real Estate Insurance

Protecting Property Owners Nationwide

This page is for apartment complex owners, condo associations, HOA boards, and commercial real estate investors seeking property and liability insurance in Georgia and nationwide

Owning or managing apartments, condominiums, or commercial properties comes with constant responsibility. From tenant safety to storm damage and liability claims, one unexpected event can create significant financial loss. At Great Southern Agency, headquartered in Carrollton, GA, we provide property insurance solutions nationwide — helping property owners protect their investments in all 48 lower states.

Who We Cover

We work with a variety of property owners and managers, including:

Apartment complexes and multifamily housing
Condominium associations and townhome communities
Office buildings and retail centers
Industrial and warehouse properties
Mixed-use commercial real estate
Large and small single family rental home portfolios
Other Commercial Real Estate (CRE)

Whether you manage one building or a nationwide portfolio, our team ensures you have the coverage you need.

Common Risks for Property Owners

Owning property means facing exposures that can lead to costly claims. Some of the biggest risks include:

Fire and water damage – from kitchen fires to burst pipes and sprinkler malfunctions
Natural disasters – wind, hail, and storm damage depending on location
Tenant and visitor injuries – slip-and-fall claims or accidents on your property
Liability lawsuits – claims of negligence or unsafe conditions
Loss of rental income – when units become uninhabitable after a covered loss

Coverage Options We Provide

Our policies are built to protect both your property and your bottom line. Coverage options include:

Commercial Property Insurance – protection for buildings, contents, and improvements
General Liability Insurance – coverage for bodily injury and property damage claims
Business Income / Loss of Rents – replacement of lost rental income due to a covered claim
Equipment Breakdown – protection for HVAC, elevators, and critical building systems
Umbrella & Excess Liability – higher limits for associations and large portfolios
Directors & Officers (D&O) Insurance – for condo and HOA boards, and more

Cyber Liability – to protect from tenants or your data being hacked

Why Work With Great Southern Agency?

Nationwide Service – Licensed across the lower 48 states
Carrier Reach – With up to 59 insurance companies to shop with, we can find the correct program for your insurance needs
Industry Knowledge – Deep experience insuring multifamily, condo, and commercial real estate
Custom Programs – Coverage tailored to each property, location, and ownership structure
Hands-On Support – We help with risk management, claims, and annual reviews

Frequently Asked Questions — Apartment, Condo & Commercial Real Estate Insurance

What insurance does an apartment complex owner need?

At minimum, apartment owners need Commercial Property Insurance, General Liability, and Business Income/Loss of Rents coverage. Larger properties or those with employees typically also need Workers' Compensation, Umbrella Liability, and Equipment Breakdown coverage.

What is loss of rents coverage and why does it matter?

Loss of rents coverage replaces rental income when a covered event — fire, storm damage, a major pipe burst — makes units uninhabitable. Without it, your mortgage and expenses continue even when tenants can't pay rent. It's one of the most important and most overlooked coverages for landlords.

Do condo associations need their own insurance?

Yes. Condo associations typically carry a master policy covering the building structure and common areas. Individual unit owners are responsible for their own contents and interior improvements. HOA and condo boards should also consider Directors & Officers (D&O) insurance to protect board members from personal liability.

What is Directors & Officers (D&O) insurance for an HOA or condo board?

D&O insurance protects board members from personal liability arising out of decisions made in their board capacity — budget disputes, rule enforcement, vendor contracts, and more. Without it, board members can be personally sued for decisions made on behalf of the association.

Does commercial property insurance cover flood damage?

Standard commercial property policies typically exclude flood. If your property is in a flood-prone area, a separate flood policy — either through the NFIP or a private carrier — is essential. We can help evaluate your flood exposure and find the right solution.

What is equipment breakdown coverage and do I need it?

Equipment breakdown covers the cost to repair or replace critical building systems — HVAC units, boilers, elevators, electrical panels — when they fail due to mechanical or electrical breakdown. Standard property policies exclude this. For multifamily and commercial properties, a single HVAC or elevator failure can be a five-figure expense.

Is general liability insurance required for landlords?

It is not always legally required, but it is practically essential. If a tenant or visitor is injured on your property and sues, general liability covers your legal defense and any settlement. Most lenders and property management agreements also require it.

Can Great Southern Agency insure properties outside of Georgia?

Yes. We are licensed in all 48 lower states and regularly place coverage for property owners with portfolios spanning multiple states.

How much does apartment or commercial property insurance cost?

Premiums vary based on property type, location, construction, age, number of units, claims history, and coverage limits. With access to up to 59 carriers, we shop the market to find competitive programs for your specific portfolio.

What is umbrella liability and how much do I need?

An umbrella policy provides liability coverage above your underlying general liability limits. For multifamily and commercial properties, $1M in underlying coverage is often not enough — especially for larger properties or those with pools, playgrounds, or parking structures. We can help you evaluate the right umbrella limits for your risk.