How Much Does Apartment Property Insurance Cost in 2026?
- Nate Jones, CPCU, ARM, CLCS, AU
- Jan 21
- 2 min read
One of the most common questions apartment owners ask when getting quotes is: How much does apartment property insurance cost in 2026? While exact pricing varies, current market data gives owners realistic cost expectations when budgeting for coverage.
Average Apartment Property Insurance Costs in 2026
In 2026, apartment property insurance is commonly priced using per‑unit averages or per $1,000 of building value.
Based on national multifamily data:
$300–$600 per unit per year is a common average for many apartment buildings
That equals roughly $25–$50 per unit per month for standard‑risk properties
Some higher‑risk markets now exceed $1,000+ per unit annually, especially in coastal or catastrophe‑prone areas.
Examples:
10‑unit apartment building: ~$3,000–$6,000 per year
20‑unit apartment building: ~$6,000–$12,000 per year
Larger or high‑risk properties: $15,000+ annually
Another common pricing method is:
$1,000–$3,000 per $1 million of insured property value, depending on location and construction type.
Key Factors That Impact Insurance Cost
Your apartment building insurance quote will reflect several variables:
Location Properties in hurricane, wildfire, or flood‑exposed areas face much higher premiums. Flood coverage may require a separate FEMA policy.
Building Age & Condition Older roofs, plumbing, or electrical systems often increase pricing.
Construction Type Frame construction costs more to insure than masonry or fire‑resistive buildings.
Claims History Prior losses can significantly increase premiums or reduce carrier availability.
How to Get an Accurate Insurance Quote
Because pricing varies widely, comparing quotes from insurers that specialise in apartment buildings is essential.
Wexford Insurance works with insurance companies that insure apartment buildings nationwide. We help property owners secure competitive coverage based on their specific building, location, and risk profile.
👉 Request your apartment property insurance quote today at Wexford Insurance