Commercial Property Consulting Physical Property 
Rental Housing Journal
JANUARY 8, 2025
You will need a true Commercial Property Policy because your apartment building is also a business. Commercial Property Property insurance covers the cost of repairing or replacing your buildings physical property if it is damaged or destroyed due to a covered event.
Esquire Property Management Group
MARCH 3, 2025
In the event of a total losswhen the property is destroyed beyond repairthe lender may utilize the insurance proceeds to pay off or substantially decrease the outstanding mortgage obligation. This ensures that the lender is fully compensated even if the physical property is lost.
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