Mixed use property insurance is the same type of insurance that covers apartment buildings and it covers a similar variety of hazards. Here are some of the things this type of insurance might cover.

Damage to the Building

Accidental or intentional damage to the building is covered by this policy. This includes damage to doors, windows, light fixtures, bathroom fixtures and flooring, among other aspects.

Loss of Rental Income

If the building has extensive damages which render the building vacant due to uninhabitability, this insurance policy can cover the financial losses. For example, if somebody floods an apartment building intentionally with water from the faucet and the floors are soaked, the first floor units might be unrentable for a period before everything is repaired. The policy would cover these losses.

Liability for Damages or Injuries

If somebody is injured in the common areas of the property, this insurance policy would cover the legal fees and hospital bills. Injuries that occur within apartments are excluded and are typically covered by renters insurance instead.

Sewer Backups

If a sewer backs up and floods the first floor of the building with raw sewage, this disaster will likely be covered by the insurer.

These are a few hazards that are covered by mixed use property insurance.